What is Contactless Mobile Payment Service and How it Works?

This service is going to be introduced in UK by this summer on selected retail stores in UK, and this service is especially introduced to pay small items like bread, cheese, soft drinks, snacks, lunch or dinner expenses. Maximum spending limit of this mobile payment service is not more than 15 Euros  per transaction, and this is set initially  in order to stop the loss to a limit when the phone gets lost or stolen. This mobile payment service is called Contactless mobile payment service.

You need to have smart phones. Those are enabled with Near field communication chips. I believe very few models have this chip inbuilt to it. You can see many new smart phones enabled with this chip in the future.  If your smart phone is in built with this chip, you need to just go near to the Wi-fi device which is kept in the store and by just waving your smart phone you can pay the amount for the transaction.

Current suitable smart phone enabled with Near field communication chips is currently Google Nexus S and there will be plenty of models going to come, which has Near field communication chip in the future.