Strategic partnership looks to expand mobile payments in Europe

mobile payments Europe

SK C&C to launch new mobile payments services in Europe

South Korean technology firm SK C&C is set to launch its new Trusted Service Manager services in Europe later this year. These services are designed to support NFC-based mobile payments throughout Europe. The company formed a strategic partnership with Wirecard AG, a financial service firm based in Germany, in order to bolster its presence in the European mobile payments space. Both companies plan to commercialize the Trusted Servicer Manager services by the end of the year.

NFC remains prominent mobile commerce tool

NFC technology still forms the backbone for many mobile payments services around the world. The technology has proven somewhat difficult to replace, largely due to the fact that it has established a strong foothold in the mobile payments space. While some mobile payments companies have been working to move away from NFC, other remain resolute in their use of the technology and the belief that it can be purchasing products from a mobile device more convenient for consumers.

mobile payments EuropeWirecard to help commercialize new services in Germany and elsewhere

Mobile payments have become quite popular among consumers, but businesses throughout Europe are still struggling to accommodate new forms of commerce. SK C&C and Wirecard aim to make it easier for retailers and other businesses to embrace mobile commerce and appeal to a new generation of consumers that have become heavily reliant on smartphones and tablets. Through its strategic partnership with Wirecard, SK C&C will be able to offer its services to a variety of German companies that have shown interest in mobile commerce. Wirecard is not restricted to Germany, of course. The company boasts of corporate clients in more than 70 countries and provides mobile payments services to these companies.

Companies continue to look for alternatives to NFC

NFC-based mobile payments services can only be used by NFC-enabled mobile devices. Because these devices are still somewhat rare in the European market, it has been difficult for many consumers to participate in mobile commerce. This is one of the reasons behind the shift away from NFC technology. Many companies are beginning to look for alternative to NFC in order to make mobile payments more accessible.

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