First Data to launch Contactless Payment Services

First Data have created a microSD based contactless payment system in collaboration with a company called Tyfone.

The new system is called SideTap. SideTap is based on a microSD card which can be inserted in to any mobile phone with a correct slot. Once inserted the phone can become a means to authorise a transaction.

By putting the system on to the microSD card it doesn’t restrict the contactless payment system to just one device as many devices are already compatible with the system. When purchasing the card you upload your financial and bank information to it allowing the data to be used when performing a transaction.

SideTap card’s onboard controller that manages over-the-air (OTA) access in conjunction with the u4ia® (pronounced euphoria) mobility platform is fully expandable, allowing consumers to add new payment and identity options, creating a true mobile wallet that is as flexible as the card provider would like it to be. Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management.

As well as acting as a payment authorisation system the microSD card also acts as any other memory card would and allows you to store data such as photos, video, music and documents.

The system is scheduled to be launched in the second half of this year.