Mobile payments could change thanks to American Express
Mobile payments are becoming more common throughout the world and have garnered the support of technology and financial firms in recent years. The growing popularity of mobile payments is largely due to the proliferation of mobile technology. Higher smartphone and tablet ownership is encouraging consumers to seek out new forms of commerce that are more aligned to their interests. As mobile payments continue to attract more attention, businesses are working to provide more comprehensive services to consumers.
Mobile commerce could become less exclusive
American Express has plans to revolutionize mobile payments to some degree. The company has been showing strong interest in mobile commerce in recent years and has been working to grow more accommodating to consumers in the mobile space. Like other companies, American Express has taken note of the somewhat exclusive nature of mobile commerce, especially as most mobile commerce services can only be accessed by devices equipped with NFC technology.
New program launches in New York City
American Express is poised to introduce a new mobile payments system that does not require the use of a smartphone or any other kind of mobile device. The initiative is being put to the test in the back of taxi cabs in New York City. These cabs are equipped with a mobile payments system developed by VeriFone. The program leverages points rewarded to consumers by American Express for the purchases they make. These points can be used to pay for cab fare in the city, but do not require consumers to make use of a smartphone or other mobile device.
Mobile payments may have a future without smartphones and other devices
Smartphone-free mobile payments are relatively unheard of in the mobile space currently. Many of the companies that are pushing into the mobile space are working to encourage consumers to use their mobile device to make purchases. American Express believes that its approach to mobile payments could be more intuitive for consumers, however, and this method could be expanded into the retail sector in the future.