The Austrian bank's CardMobile service allows low value transactions to be aggregated, removing the need for each transaction to be authorised individually while still keeping a full audit trail of purchases made.

Read the rest of Raiffeisen Bank: Our NFC payments service could cut merchant fees by 70% at NFC World.

1. US Bank begins testing microSD based NFC payments service
2. Yapi Kredi Bank and Turkcell to launch NFC payments service using Visa’s iPhone add-on
3. Bank of America to run NFC payments trial in New York

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