Company develops NFC stickers to make mobile commerce more inclusive
Giesecke & Devrient (G&D), a financial services and security company based in Munich, Germany, has introduced the first payment sticker that complies with the specifications of the German banking industry. The sticker makes use of NFC technology and is designed to be used with smart phones and other mobile devices to turn them into payment platforms. Using the stickers, consumers can make purchases using their mobile device rather than physical currency or a credit card.
NFC stickers may address the low availability of NFC-enabled mobile devices
G&D believes that the stickers will fill a void that currently exists in the mobile commerce industry. This void is due to the lack of NFC-enabled mobile devices that are available to consumers. A small number of these devices have managed to make their way to the international market. Telecommunications and technology companies are currently working on developing new NFC-enabled devices, planning to release these products in the coming years, but G&D believes that NFC solutions are needed now in order to secure the future of mobile commerce.
NFC stickers to use MasterCard PayPass technology
The stickers are authorized to make use of MasterCard’s PayPass technology, which will enable them to be used by more than 350,000 NFC terminals in 37 countries. Though they can be used in various parts of the world, G&D developed the stickers specifically for the Germany market. The stickers make use of the SECCOS Secure Chip Card Operating system, which is the same system the country’s banking industry makes use for its own cards and financial services.
Security remains an issue that could hamper the adoption of mobile commerce
G&D anticipates that the NFC stickers will help mobile commerce gain a foothold in Germany. Smart phone penetration is already high in the country, which is expected to translate well into adoption of mobile commerce amongst consumers. Security is still a major concern for many consumers, but G&D is currently working on ways to ensure that mobile transactions are safe for consumers.