2degrees and GE Capital have plans to launch a new mobile wallet
Mobile wallets are becoming more common throughout the world, but none of these mobile commerce platforms have yet established a significant lead among consumers. Mobile wallets aim to offer more convenient to consumers by providing them with a digital platform that can contain a wide range of financial information. These platforms can also digitally store information from loyalty programs and mobile coupons, making this information easily accessible to smartphone and tablet users.
Demand for mobile commerce services is on the rise
With mobile commerce making strong progress around the world, the value of mobile wallets is becoming more noticeable. Consumers are beginning to demand comprehensive mobile wallet solutions, and 2degrees and GE Capital are working together to meet that demand. 2degrees is a prominent mobile network based in New Zealand and GE Capital is the financing arm of the General Electric corporation. Together, the two companies are preparing to launch a new mobile commerce platform that will leverage the capabilities of NFC technology.
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Wallet can store financial information in a convenient fashion
The mobile wallet will be able to store the financial information of credit and debit cards, making this information easily accessible to smartphone and tablet users. The mobile wallet will initially only be available to the Samsung Galaxy S III, which is one of the few devices in the world that is equipped with NFC technology. NFC will allow the mobile wallet to receive and transmit information, facilitating mobile payments in a convenient fashion. The mobile wallet will also be able to store information concerning loyalty programs associated with retailers. The platform will be launched in New Zealand within the coming months.
Focus on NFC technology may not win favor of consumers
The fact that the mobile wallet is based on NFC technology may limit its attractiveness to consumers. Fortunately, the initial launch of the platform is meant as a trial more so than a commercial release. The trial will give 2degrees and GE Capital time to better understand the demand surrounding mobile commerce and what consumers want to see from the platforms that they will be using in the future.