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MasterCard (MA -0.5%) reveals more details of its new mobile payments initiative, saying a...

MasterCard (MA -0.5%) reveals more details of its new mobile payments initiative, saying a virtual wallet will allow customers to scan items as they meander through stores and show a proof of payment via their phone as the exit. Though a retail system without checkout lines still seems like it's a ways off, the company's virtual wallet presents an attractive online payment solution right off the bat.
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