Speaking this week at CTIA in the first big keynote event, the President of Global Products and Solutions at MasterCard Gary Flood noted that they'll be working with "a simple tap, click, or touch." To do this, he called up his colleague who brought with him a white Samsung Galaxy S II embedded with NFC. Shown off here for the first time outside a simulated demonstration video was MasterCard PayPass.
As Flood noted earlier in the keynote, "85% of the world's money transactions are made in cash and checks" - still! This is a shocking figure when just this morning we also heard (in this same keynote) that there are more people holding mobile phones today in the world than there are people with electricity or running water. Tapping here without the need for hitting your wallet is what's being shown, and with only a tap here and there is what MasterCard is showing as the future.
Interestingly enough, slides throughout this presentation showed devices behind text that were slightly outdated. This is likely because these images are easier to license than the newest NFC-laden smartphones, but there's something strange about seeing the original RAZR up with the future of mobile payments. Stay tuned here through the whole week for more CTIA 2012 action than you can handle!