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. [Read more…]