Credit Card Company MasterCard is taking a step forward into innovation as they bring mobile payments to virtually any type of product you own. The company will be working with a number of firms across the automotive, fashion, technology, and wearable industry to establish a new program which gives you the independence of shopping using your desired device or product appropriate for your day, according to PC Mag.
MasterCard is planning to partner with a lot more companies as time goes by but for now, it has already collaborated with fashion star Adam Selman, automaker General Motors, technology company Nymi, smart jewelry company Ringly, and Bluetooth locator TrackR.
?Technology is vital to the fashion industry, from textiles, printing techniques, and innovations in garments, it keeps fashion changing and evolving. Usually technology?s rol in fashion is behind the scenes,? Fashion designer Adam Selman shared in a statement. ?What sets the MasterCard program apart is that it features the technology, while still remaining invisible, yet interactive and totally functional with the wearer.?
A number of exclusive designs from Adam Selman and prototypes like the key fob (for GM), wristband (for Nymi) and ring (for Ringly), will be on display at the Money 20/20 conference in Las Vegas this week. Projected launch of the first devices with the mobile payment will be in 2016 with MasterCard trying to plan ahead and be able to take the program to over 50 billion devices by the year 2020.
?As more and more ?things? become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,? Chief Emerging Payments Officer at MasterCard Ed McLaughlin said in a statement. ?This program eliminates the boundaries of how we pay by delivering a secure digital payment experience to virtually anything ? rings, fitness and smart bands, car key fobs, apparel, and whatever comes along next.?