As a result of the initiative, retrofitted iPhones can conduct contactless wave-and-pay transactions for Mastercard PayPass, Visa payWave, American Express ExpressPay and Discover Network Zip. The solution integrates a mobile wallet menu on the iPhone, enabling the user to choose from a PIN-secured suite of applications such as credit cards, subway tickets, and coupons. The iPhone functionality can be used on additional GSM handsets, as well as closed-loop applications including gift cards, private payment, loyalty cards, identity, coupons, transportation and ticketing.
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