Jan 11 AT 4:51 PM Dustin Earley 31 Comments

Moneto uses microSD to implement their own NFC payment system on Android

paypal nfc p2p

When Google first announced their NFC based mobile payment system Google Wallet, there was some huge buzz surrounding the service. Since then, Google Wallet has fallen flat. Other than Sprint, no carriers want to support Google Wallet. Which means it hasn’t been on more than one device so far. Verizon, T-Mobile and AT&T have their own NFC payment system on the way, but have yet to deliver any details on when it will arrive. It’s starting to look like NFC payments will never take off unless some sort of credible third party can think of a way to support just about any device, on any carrier, with any operating system. That’s where Moneto comes in.

Moneto has partnered with MasterCard to make NFC payments easy for both iPhone and Android users. Just today, the company detailed their iPhone and Android NFC microSD card solutions. With the iPhone, you have to spend $80 to get a special NFC enabled case, but with Android, it’s as simple as microSD card and a sticker on the inside of your battery cover.

Slated to be available in the next couple weeks, with compatibility for different Android devices always being added, the NFC enabled SD card for Android will cost $30. All you have to do to use Moneto is sign up with them for an account which will give you access to a prepaid MasterCard tied to Moneto. You can add funds to your Moneto MasterCard in several different ways including PayPal, direct deposit, ACH transfer, MoneyGram Western Union and more. You can also get a companion Moneto MasterCard for any vendor that doesn’t accept PayPass.

As far as security goes, Moneto uses In2Pay technology for encryption and is backed by MasterCard’s Zero Liability.

Considering the availability, security, cost and ease of use, Moneto could be on to something huge here. If the service takes off with Android and iPhone, we can guarantee you’ll see a lot more of Moneto in the future.

Show Press Release
DeviceFidelity and SpringCard Launch moneto, the World’s First Multi-Platform Mobile Wallet for iPhone and Android at CES

Dallas, TX (PRWEB) January 10, 2012

moneto, developed by DeviceFidelity, Inc. and Spring Card Systems LLC, announced today the launch of the world’s first commercially available mobile payment solution that provides iPhone and Android users a convenient way to pay while on the go. The moneto iPhone wallet is powered by MasterCard PayPass technology and linked to a general purpose reloadable MasterCard prepaid card to enable iPhone users to make purchases with their phone at the hundreds of thousands of merchants that accept MasterCard PayPass.

“For over a decade, MasterCard has led the transformation of mobile phones into secure mobile payment devices,” said James Anderson, senior vice president, Mobile and Emerging payments at MasterCard. “We are excited to partner with moneto so that iPhone users can enjoy the convenience of paying for purchases with a simple ‘tap’ at thousands of PayPass locations around the globe.”

For the first time, NFC functionality is available directly to consumers at retail without the need to change devices, upgrade plans or sign new contracts. The moneto mobile payments technology uses a NFC-enabled microSD chip embedded in a patented, protective iPhone case. iPhone users simply need to sign up at moneto.me to receive the case, install the moneto app from the app store, and activate their account. Users can launch the moneto app to view their account balance, check transaction history and make everyday in-store purchases with a tap of their iPhone at any PayPass-enabled contactless payments reader at the point of sale. 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.

“As this breakthrough mobile wallet launches in the US, it not only makes mobile payments available to iPhone users for the first time but it also opens the door for consumers to adopt NFC while pushing mobile commerce forward,” said Deepak Jain, DeviceFidelity President and CEO. “We are excited to partner with MasterCard and SpringCard to break the barriers for a rapid effective rollout that will spur both consumers and merchants to adopt this new wave of electronic commerce.”

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.

“Consumers have been hearing about NFC and mobile wallets for years, now with moneto they can finally start using it and with the most popular smartphone device on the planet. The moneto mobile wallet app is focused on delivering a faster and easier shopping experience that is consumer friendly,” said Kevin Haddad, president of SpringCard. “Our vision is simple: People who use our applications should not have to worry ‘Will this work with my phone?’ as consumers can easily make secure purchases regardless of their phone, carrier, or bank.”


The In2Pay technology behind moneto brings peace of mind to consumers. moneto users can prevent unauthorized access to their account using a PIN that is safely stored in a secure chip inside the microSD. The sleek and durable case design protects the iPhone and the NFC enabled microSD securely stores and encrypts the card information. Additionally, the moneto account is backed by MasterCard’s Zero Liability, which protects consumers against unauthorized purchases.


moneto for iPhone will be available for online ordering in the U.S. immediately at moneto.me for $79.95 which includes $10.00 of pre-loaded funds. The moneto mobile wallet is available in limited release on the iPhone 4S, iPhone 4, iPhone 3GS, and iPhone 3. A number of Android models will also be supported by 2Q12. Additional phone support will be added throughout the year.

The moneto prepaid MasterCard card is issued by University National Bank, member FDIC, pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Source: BGR

Dustin Earley: Tech enthusiast; avid gamer; all around jolly guy.

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  • Mike

    Want. Hoping to chat with them tomorrow at CES.

    • http://noisufnoc.com noisufnoc

      Now I’m actually logged in. That was me /\ /\ /\

    • Johnston212

      Lol, ask them if it has any memory to it? That’s the only thing that worries me. I like to put videos and stuff on my externals, so sacrificing it for the neat features of NFC is a no go

  • Arturo Castro

    This is good news for nfc,

    only question i have is would this bring full nfc to phones or would they only function for payments?

    • professandobey

      Same question.
      I hope this hardware would work with all other NFC apps such as Beam and Wallet. I’d love to be able to beam things to my wife on her Bionic.

    • ben

      That’s my question. The fact that you need a special prepaid mastercard makes me think it may only work for that, rather than the same as true nfc. If other uses worked why not any card? Hopefully I’m wrong.

  • johnsin

    Anyone notice all the Cabs in SF are in the process of upgrading to NFC systems. I am seeing the same at McDonalds and Starbucks.

  • spazby

    I just don’t understand why the process is so slow in america… Visited south korea recently and they are miles ahead….

    • NoRootNoFun

      At least there IS a process ;-) That’s what I hate most about germany… I can’t even pay cashless in some stores and restaurants. My favourite mcdonalds restaurant started to accept credit cards just last year… Can’t even dream of NFC. I’d love to get rid of all these coins in my pocket, but it’s just impossible.

    • http://droidsamurai.blogspot.com DroidSamurai

      Google is partially to be blamed here — you can count how many phones released in US last year comes with NFC using your fingers. It will be a totally different story if Google requires every phones shipped with Gingerbread to support NFC. That will give Google bargaining power to push the carrier forward to adopt Google Wallet. I can’t imagine how Google can convince Verizon to adopt Google Wallet. You can hear VZW execs laughing at Google saying ” … there’s no phone other than the Galaxy Nexus in our network that will support Google Wallet.”

      • Ari32

        And then the Android community in turn laughs at Verizon because they got Google Wallet onto the GNex without root…

  • dbareis

    Does make you wonder whether this is the real reason the Samsung Galaxy Nexus doesn’t have an SDCARD…

    • professandobey

      No. It’s to prevent partitions from limiting app storage. And make all your storage seemless. As a gNex user, I really dig this change.

      Plus, I’m sure that this new payment app can work with the existing NFC hardware if your phone has it.

  • Oskar Wismierski

    Hopefully this will make NFC more widely used ;)

    And they told me galaxy S II can’t have NFC..

    • CTown

      i beilive it depends on the carrier. I think T-Mobile’s GSII has NFC…

      • Oskar Wismierski

        It probably does but the original doesn’t :(

  • GeauxLSU

    This is a start, but I don’t like the prepaid credit card idea. In fact, they could give away the iphone cases and SD cards and make the money back on all the credit card fees they will earn and the interest on the cash they will be holding.

  • AndroidOrDie

    My only question is in regard to the capacity and quality of the MicroSD cards they will offer. Many who use upward of 16GB MicroSDHC cards know that not all cards are created equal in terms of speed and reliability. At $30, it is almost guaranteed that these cards will be in the 2 to 4GB range… so am I supposed to constantly keep switching out MicoSDHC card whenever I want to use NFC? Wouldn’t it then be easier to just reach for my wallet for my credit card (chances are that’s where i’ll keep my Moneto card to begin with)???

    • aranea

      That’s what I was wondering too. How big the card will be and what class it will be. I don’t want to buy a class2 microSD card and wait for it to read data off of it.

      • uknowme

        I read on Goodandevo.net that it is supposed to be 8gb. If it catches on I don’t see why they wouldn’t bring out a 16 or 32 version.

    • nrorm

      same issue—-not all sdhc cards are created equal and it would be a tough trade-off to accept a slower or smaller card to have nfc. If I was using that as a payment method regularly or had a phone with a lot of on-board storage, I would accept that though

  • donger

    seems interesting, wondering if NFC will take off with this.

  • lokidokie

    NFC payments (hopefully in the form of Google Wallet) needs to catch on.
    I’m sick of carrying round my wallet already.

  • Zak Lambert

    NFC WILL catch on eventually. Mark my words.

    • ben

      Not necessarily. It will only become as popular as the number of people who have a phone with it, (as well as the number of retailers using it). I know I FOR ONE am not going to buy a new phone just to have nfc when hardly any businesses near me have it anyway. And verizon as well as some other carriers have blocked google wallet giving a questionable excuse as usual. They might block that to if they could try to block this too in favor of the supposed alternative they are working on. On the bright side if you have tasker like I do you can trigger tasker tasks through NFC. That’s assuming this is TRUE nfc.

  • Hall Lo

    Neat! Sounds like future isnt too far away from us now ;D

  • WlfHart

    So is this an SD card, or an attachment to an SD card? Because for $30 I’m worried if the size or speed of their SD card is going to be preferable. Fun development though!

  • LordHasan

    I don’t like my hand getting this close to another mans hand. As such this NFC technology is not for me lol

    • Cody

      LOL what are you talking about LordHasan? Thats one of the great points of NFC, that there is no touching or exchanging. You wave a device at a terminal, payment is approved, end of transaction.

      • LordHasan

        oh well in tht case i want it! no touching! :)

  • KRS_Won

    Moneto just upgraded this to include 6 new Android phones. Though, I think NFC/SD cards will have to be 16gb before people start to widely accept them. I’m glad there are options for those that can’t afford a G-Nex. And I’m sure that the memory is low to more it affordable, but it’s just not an even trade as far as I’m concerned. With Verizon (maybe others) starting a new trend of selling Android phones without SD cards to keep initial purchase down, I’m positive this tech is missing a jump start on a hugely available market.