Shop Talk: Oliver Steeley, Vice President of Mastercard’s Mobile and Wireless Center of Excellence
“What we’re seeing now is that we can imbed a technology [NFC chips which wirelessly communicate information such as a credit card number with just a tap on a point-of-sale reader] so the phone can act as a credit card AND an information reader, allowing 2-way communication. It opens the way for a variety of consumer applications. Payment is just one application for this technology. Customers would never have to type a URL into a handset again. They can just touch a poster on the subway and get content, it’s so easy. Think of the advertising implications!
“The reason why we’re doing this with phones are the many transactions happening with cash that we think should be taking place with credit. We don’t think we’re getting our fair share ... We tested this technology at a camera store in Orlando where customers could pay for their prints with it. I’d love to see this in Starbucks too and frankly, in every bar. I’d like to see it on every bus and transit system, every newspaper seller, ever car park and every taxi.”
- Oliver Steeley, Vice President of Mastercard’s Mobile and Wireless Center of Excellence