“This is interesting in that it’s the first public announcement I’ve seen, at least from a major player, to leverage the mobile phone to secure a card-based transaction,” said payments expert Todd Ablowitz, president of Double Diamond Group. “Of course, the question, as always, is about adoption. Can MasterCard and the other players looking to secure card-not-present (CNP) transactions get merchant and consumer adoption? How long will it take? No doubt there is a high level of fraud in CNP transactions, especially as related to card-present transactions, but will this be the solution? It remains to be seen. In the payments industry, that can take a long time to play out.”

StorefrontBacktalk, November 19, 2009
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