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HTC phones get payment capabilities

June 22, 2012

All over the world, consumers are leveraging mobile applications to process payments, replacing traditional card services.

All over the world, consumers are leveraging mobile applications to process payments, replacing traditional card services.

In one recent deal, smartphone vendor HTC Corporation signed a deal with a number of different banks and credit card companies to launch a new payment product for customers in Taiwan, Focus Taiwan reports. The mobile phone company said it would be holding a news conference with brands including EasyCard, Cathay United Bank and MasterCard International, to officially unveil the system.

The source reports that consumers will be able to use the PayPass card system, leveraging the “HTC Incredible E” application, which enables phones to act as a type of mobile credit card. By the end of the year, 100,000 of these types of devices are expected to be sold, with the market growing rapidly.

According to a study by the Pew Internet and American Life Project, two-thirds of those surveyed believed that mobile transactions would dominate the market by 2020. Many firms that specialize in merchant services are developing technology to meet the demand.

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