Prepaid and contactless

MasterCard made a couple of interesting presentations to the Smart Card Club in London yesterday.   Bruno Carpreau was explaining the OneSmart MasterCard Paypass product.  This combines EMV with a contactless interface: the cards will work at any PayPass terminal in the US (operating in magnetic stripe mode) as well as any EMV terminal elsewhere (they also have magnetic stripes on for backward compatibility).  Chris Reddish was explaining the range of MasterCard prepaid products and was generally very positive about the European prepaid market, predicting it to be around 80-85 billion euros in 2008.   I gave a bullish talk on the combination of contactless and prepaid at the same event.

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