Few consumers are aware of the massive battle raging around them in which several technology and telecommunications companies are pitted against one another for the supremacy of the mobile commerce industry. The industry, while young, holds promises of wealth for companies that can successfully leverage NFC technology and establish themselves as a leader in mobile payments. Using NFC to turn smart phones into digital wallets is only the tip of the iceberg when it comes to mobile commerce, however, as companies are now starting to vie for the favor of hardware manufacturers.
These manufacturers hold the future of mobile commerce in their hands. Without NFC-enabled smart phones, digital wallets are nothing more than a fantasy. Conversely, the global market can be saturated with such mobile devices, but if there are no NFC terminals available to facilitate contactless payments, the industry will never take off. Now manufacturers are posed to define the future of the industry as any company they side with will likely have an advantage.
Google is among the first companies to produce an NFC-enabled smart phone and has recently launched their mobile wallet service. Apple is pegged as a formidable competitor but it may be Isis, a joint venture from AT&T, T-Mobile and Verizon Wireless, that proves to be the more tenacious opponent. Isis has already attracted a mass of investors and has procured deals with several manufacturers for NFC terminals to be installed in businesses around the world.
