MasterCard Certifies OTIs Wave NFC Device, Paving Way Toward Greater NFC Adoption and a Wallet less World The Wave is the industry’s first audio jack plug-in NFC payment solution and the only to receive certification from a major payment company like MasterCard.

Based on OTI’s patented NFC technology, the compact Wave dongle is device agnostic, easily plugging into any smartphone, tablet or PC, allowing users to pay with their device while enjoying real-time benefits from loyalty programs and other incentives as delivered by the corresponding application. It opens up a whole new world of mobile device applications, while alleviating the burden of a wallet full of credit cards.

“Receiving certification from MasterCard provides essential validation of our technology platform and opens up significant greenfield opportunities for our Wave solution,” commented Ofer Tziperman, OTI’s CEO. “

We can now begin to target large-scale implementations with banking institutions and payment card providers, as well as projects involving public transportation, institutional memberships, and loyalty and rewards programs.

“As the first major player in the payment industry to certify OTI’s Wave, MasterCard provides validation of our NFC solution — now the payment industry’s only certified NFC audio-jack add-on solution. We expect other major payment companies to follow suit and provide certification in the near future.

“With NFC-enabled applications expected to grow at a 35% CAGR to $34.5 billion by 2016, it’s clear the payment industry is rapidly adopting NFC technology.

NFC is becoming increasingly recognized as the fastest, most efficient, most versatile […]

Source ppinewsagency.com