News by Dan Seifert on Wednesday January 11, 2012.
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Moneto, a new service from DeviceFidelity and Spring Card Systems, resolves the problem that plagues many Near Field Communications-based payments systems: most phones on the market do not have NFC technology built in to them. The new moneto microSD card features an NFC chip on it, and can be used with any Android smartphone or tablet that supports microSD card expansion.
The moneto card is no larger than a standard microSD card, but it packs an encrypted NFC radio and antenna and works with MasterCard's PayPass technology (the same service that Google Wallet uses at point-of-sale terminals). The card goes in the microSD card slot of any Android device, and instantly gives the device pay-by-phone powers. A sticker applied to the battery underneath the phone's rear cover aids in transmitting the NFC signal.
In addition to the microSD card for Android devices, moneto has also created an iPhone case that brings NFC capabilities to the iOS device. The case has the microSD card with NFC embedded into it, so it can be used just the same as the Android version.
The iPhone case supports the iPhone 4S, iPhone 4, iPhone 3GS, and iPhone 3G and is apparently available now. It sells for $80 and includes $10 of pre-loaded funds. Users can refill the prepaid moneto card attached to the NFC chip online by transferring funds from other accounts to it. The microSD card for Android devices is expected to be available in the coming months and will cost $30. [via BGR]
Dan is MobileBurn.com's Editor-in-Chief. Based in Poughkeepsie in New York, Dan can be found on Twitter as @DCSeifert.