Technology-Headlines

by George Heymann

Moneto prepaid NFC mobile wallet service compatible with Android and iPhone

by George Heymann|@techeadlines

technology-headlines.com

Yesterday DeviceFidelity, Inc and Spring Card Systems LLC, announced Moneto a prepaid mobile wallet service utilizing Near Field Communications (NFC) in conjunction with MasterCard PayPass technology.

The innovative service enables NFC on previously incompatible smartphones by utilizing a custom Moneto microSD card for Android and a custom case for iPhone.

According to its press release “Users can fund their Moneto prepaid account through direct deposit, ACH transfer or cash/credit/debit card-enabled third-party money transfer services such as MoneyGram, Western Union, PayPal or GreenDot.

Moneto also comes with a companion prepaid MasterCard to give users the ability to access cash at ATMs and make online purchases, pay bills or shop at merchants that do not accept contactless payments. Moneto also enables card-to-card and wire-fund transfers from a secure internet portal accessible via moneto.me.”

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