Verizon Business signs 5G contactless payment deal with Mastercard

FILE PHOTO: A Verizon store in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick Wilking/File Photo

STOCKHOLM (Reuters) - Verizon Business on Tuesday signed a deal with Mastercard Inc to use 5G and wireless technology for contactless payments and provide an autonomous checkout service for retail stores.

Telecoms operators such as Verizon are seeking to expand into new businesses ranging from robotics to fintech companies that they think will benefit from the growing adoption of 5G technology.