On 20 October 2011, leading enterprises and experts in innovative payment technologies gathered at the MasterCard Center in Beijing for the MasterCard Innovation Forum. They had in-depth discussions and exchanged ideas about the payment industry. Speaking or sharing their thoughts at the forum were industry gurus including Chief Innovation Officer of MasterCard Worldwide Garry Lyons, Division President, Greater China of MasterCard Worldwide Hai Ling, Vice-chairman of NFC Forum James Anderson, Deputy Chief Information Officer and General Manager of Information Technology Management and Department Lead of Innovation Committee of Bank of Communications Ma Deqiong, Mobile Service Development Strategist of DoCoMo China Chen Juming, General Manager of Developer and Platform Evangelism of Greater China Region of Microsoft Xie Enwei, and Chairman of EasyCard Corporation Liu I-Cheng. And, held alongside the forum was a payment technology fair that showcased the latest in payment technologies and industry development trends.

MasterCard's innovative technologies change the lives of consumers

　　The innovative payment technologies displayed at the forum were developed with the consumer in mind. Participants of the forum were able to appreciate the freedom those technologies could bring to people in selecting the payment method most agreeable with their needs and lifestyle.

　　Hai Ling, Division President, Greater China, MasterCard Worldwide, said, "Emerging new technologies and innovations are changing our lives. These new developments have significant impacts on our lives and are bringing opportunities as well as challenges. The payment industry is very much alive to the tremendous power of innovation and understands that how payment is made can change the Chinese lifestyle." MasterCard's Chief Innovation Office Garry Lyons agreed and said innovative technologies are going to drastically shape the development of mobile e-commerce.

MasterCard makes payment easier and faster

　　MasterCard's PayPass™ technology is a new contactless payment technology. Consumers can use this simple and convenient means to shop and spend at more than 350,000 partner merchants of MasterCard all over the world. Consumers can pay subway and other transportation fares or buy a soft drink at convenience stores at a swipe of their PayPassTM card or their handsets and other handheld devices embedded with the technology, freeing them of the hassle of handling cash and small changes. At the exhibition, a host of different PayPassTM means were shown with the following highlights:



MasterCard makes payment safer

　　Among the new technologies and applications displayed was the world's first MasterCard Display Card. Equipped with an LCD screen, it allows a cardholder to check still available credit on his card, the remaining value on his pre-paid card or access important information such as one-time PINs. Such information is all available at a touch of the button on the card and a cardholder can also set his own display activation code.

　　In addition, consumers can use the standard EMV chip card and chip card reader issued by banks to meet their daily banking needs, such as manage their bank accounts, reload their debit cards, and manage their PINs and different applications all in the comfort of their own home.

MasterCard makes payment easier to control

　　MasterCard's inControl technology platform is a new service that gives individual consumers, small and medium enterprises, home users and big enterprises flexibility in controlling their transactions. It allows parents, employers and cardholders to set parameters, such as the time, place and types of purchase which the card can be used for, giving them better control over their accounts and adding value to their relationship with financial institutions.