Telecommunications and technology companies, along with financial institutions, have been locked in a battle to establish dominance in the budding mobile commerce industry. The industry relies heavily on NFC technology, which allows consumers to make purchase from their mobile devices. Consumers have responded well, thus far, to the prospect of their mobile devices becoming a payment platform, but there is a problem keeping mobile commerce from mass adoption. The problem is that NFC technology is available only to a precious few smart phones – those equipped with microchips that allow them to interact with NFC terminals.
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Sequent Software, an NFC technology developer, has found a way to solve this problem by enabling all mobile devices, smart or otherwise, to make mobile payments. The company has developed a technology it calls Core Card Services (CCS). CCS allows any mobile application to integrate NFC technology, allowing consumers to make purchases even if they do not own a smart phone.
Sequent believes that its technology will help consumers adopt mobile commerce more quickly, which is good news for the companies that are investing heavily in the industry as more people will be looking for mobile wallets. Users of Sequent’s technology will also not have to worry about their personal and financial information being stolen from the company as Sequent will not store or handle this information in any way.