Mobile payment isn’t being adopted as quickly as originally anticipated

Mobile Payments

Though many major international companies such as Google, banks, payment processors, and retailers such as Toys R Us and Gap, are working together to offer customers the ability to use their mobile devices to pay for their purchases, a recent KPMG study is showing that it will still be another few years before the payment method truly goes mainstream. In fact, the study’s results indicate that only 23 percent of consumers are currently willing to use their smartphones to complete a payment transaction instead of cash, credit, or debit. Within…

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2012 will bring much more than contactless payment from NFC

NFC Technology

At the end of 2010, the predictions made by Forrester were that Near Field Communication (NFC) would start to come into its own in 2011, though they had noted that it would be far from mainstream by the close of this year. Now that it’s a year later, the predictions are starting to come in for next year, and this year’s use of NFC is starting to be reexamined in order to make the forecasts. In 2011, it has been estimated that between 35 and 40 million smartphones enabled with…

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Gemalto to provide platform for ISIS NFC mobile commerce

Mobile-Commerce

The American NFC contactless mobile payment service, ISIS, which is a joint venture among the major U.S. mobile network operators, Verizon Wireless, AT&T Mobility, and T-Mobile, has selected the trusted solution for service managers, Allynis from Gemalto, as its central mobile commerce platform. According to the chief marketing officer for ISIS, Ryan Hughes, Gemalto was chosen due to its long established relationships with both mobile operators and various trusted financial organizations. He explained that this meant that Gemalto could provide significant experience in offering services to the consumer, which involve…

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Absa partners with Vodacom to advance the spread of mobile commerce

Mobile Payments

Absa, the largest retail bank of South Africa, have partnered with Vodacom, a pan-African mobile telecommunications company, in order to expand the reach of mobile commerce. Together, both companies will develop the mobile banking and payment services available to South Africans as well as introduce several new services to the market. Officials from both companies hope that the project will provide consumers with increased convenience when making purchases. Their efforts will expand into surrounding African countries that may benefit from increased focus in mobile commerce. The concept of mobile commerce…

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Contactless Visa debit cards now available through Bank of Ireland

Mobile Payments

The Bank of Ireland has announced the release of a new form of Visa debit card that is contactless, so that the consumer may make small purchases in “less than a second” by simply holding their cards over the reading device. The near-field communications (NFC) enabled cards can be used for purchases of €15 or less in a contactless transaction which functions with the user’s account at the Bank of Ireland. The same security protection that is available on all Visa cards also applies to the use of these cards.…

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