Mastercard previewing smartphone internet payment system with in-person security strength

Mastercard is already a big fish in the still tiny NFC contactless payment pond, and now it wants to take that same technology to a veritable ocean - internet sales. The plastic purveyor is tag-teaming with ING in the Netherlands for PayPass-based smartphone internet payments that would have a "comparable level of security" to bricks and mortar purchases - by transmitting an EMV-compliant cryptogram or QR code to merchants.

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