Motorola Invests in Contactless Payment Company
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Jan 7, 2008, 12:00 PM by Eric M. Zeman
Motorola's venture capital arm has invested an undisclosed sum in Inside Contactless. Inside develops contactless payment chips and near field communications technologies for mobile devices that allow people to make instant point of sale purchases by waving their phones over NFC readers. Several other companies, including Visa and Nokia, have also invested in Inside. There is no word on when or if Motorola will begin incorporating NFC systems into its phones, but Sprint and HSBC, for example, are trialling NFC systems in major U.S. cities.
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