However, despite all its clever features, V-Sync is likely to face an uphill struggle to get people to try out CoCyph.

ECONOMIST: Japanese payments

It features improved performance throughout the system, including faster orientation changes, faster responses when switching between recent apps, and smoother and more consistent rendering across the system through v-sync and triple buffering.

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Although nervous customers will probably be able to protect their e-purse with a password or with fingerprint identification technology, V-Sync believes many will prefer to use the gadget without lengthy identification rituals.

ECONOMIST: Japanese payments

Katsuma Fujii, V-Sync's young chairman, disagrees, arguing that the extra weight will be trivial compared with the pesky small change and plastic cards that users will be able to leave at home.

ECONOMIST: Japanese payments