The social-network sharing technology is working now in a pilot with more than a hundred users, Lyons said. A more futuristic application involves audio signal technology. In one demonstration, audio signals embedded in a TV commercial were detected by a mobile phone application that a person could then use to download coupons related to the advertisement.

QkR technology goes beyond mobile phones, however. Lyons showed off one application where users could input payment information via the Xbox Kinect, using gesture recognition to select items and go through a checkout process.

Though some of the applications demonstrated by MasterCard are not likely to be rolled out any time soon, the company is looking to officially announce details related to the technology soon, possibly over the next few weeks, officials said.

The QkR platform, with its range of input capabilities, is a good hedge to the NFC-oriented Google Wallet application. NFC will have plenty of competition, including a announced Thursday that works by having mobile devices scan product bar codes and authorize payments through PayPal mobile accounts.