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When renters default on their monthly payments, facilities replace the lock with one of their own.
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Its contactless payments facility replicates what many in Europe can already do with credit and debit cards.
It should act as collateral now for the balance of payments facility, but also in the future for the greater use of innovative financial instruments leveraging European budgets.
Walker said many fraudulent websites had had their online payment facilities switched off, making it harder for them to operate.
Small companies could be missing out on millions of pounds' worth of business by not offering card payment facilities, Square warned.
The sweeping act would have given companies that claimed their intellectual property was being infringed the power to request court orders to forbid advertising networks such as Google, as well as payment facilities, from conducting business with infringing sites.
Companies which claimed that their intellectual property was being appropriated or infringed could request court orders to forbid advertising networks (such as Google) and payment facilities (online services such as PayPal) from conducting business with infringing websites.
The sweeping act gave companies that claimed their intellectual property was being infringed the power to request court orders to forbid advertising networks such as Google, as well as payment facilities, from conducting business with infringing sites.
As well as Square, Starbucks has also invested in providing NFC (near-field communication) payment facilities in its shops.
The QAA wrote to PayPal in November calling on the firm "to close down the payment facilities for the essay-writing companies that encourage students to cheat".
Visa says it is working closely with handset makers, carriers and technology providers worldwide to bring Visa payment facilities to the mobile channel.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com