Five students—Nick Haughton (Grade 12), Ian Lo, Max Liu, Adam Murai, and Jeffrey Seto (all Grade 11)—competed in the MasterCard NXT https://nxt.mastercard.ca/ Developer Challenge at the MaRS Research Centre on September 28/29, and were theonly high school-aged competitors in the running, after receiving special permission from the competition organizers. And these digital natives didn’t disappoint. They were rewarded for their efforts with a 2nd place finish in the challenge and $10,000 for the peoples choice award.
In their demonstration, they simulated four students going out for dinner – then splitting the bill four ways, as is often done. The waiter punched in the total cost of the meal, then placed the POS (regular smartphone) device on the table. The diners waved four different credit cards beside the phone. Instantly, the bill was equally split and the money sent to the restaurant in a matter of seconds. MasterCard setup demo merchant accounts and test credit cards for the challenge so the teams could demonstrate REAL credit card transactions, and the app worked beautifully. They completed the complex meal transaction, with taxes, tip, and four-way split in less than 16 seconds – starting from the time the waiter picked up the device, until the money was in the restaurant’s account. Priceless.