mobile payment growth Archives

NFC technology embraced by the mobile industry worldwide

11/02/201111/02/2011 Julie Campbell

This year, the worldwide adoption of near field communication (NFC) has taken off in the mobile industry, as Google Wallet has made its strong debut and top manufacturers of mobile devices, such as Samsung (Google), Nokia, LG, RIM, and ZTE, have been producing handsets enabled with the technology. In mainland China alone, there are more than 900 users of mobile devices, making it the region with the greatest potential for the future growth of NFC use. Companies that are aiming to connect with NFC suppliers or to research new innovations…

In-Stat: Number of NFC-enabled mobile devices to exceed 1 billion by 2015, despite security concerns

10/30/201110/30/2011 Stephen Vagus

NFC Technology Mobile Payments Infrastructure

Mobile commerce is a promising new industry that revolves around smart phones being used as payment devices. This is accomplished through NFC technology, which allows smart phones to interact with NFC terminals to make purchases. Mobile commerce is often lauded as a safe, streamlined way to pay for goods, but security concerns have, thus far, stifled the growth of the industry. Despite such concerns, In-Stat, a global market intelligence firm, predicts that there will be more than 1 billion NFC-enabled mobile devices by 2015. The security concerns surrounding NFC technology…

American Express makes moves toward greater mobile expansion by way of acquisitions

09/16/201109/16/2011 Julie Campbell

According to its executive vice president, David Messenger, American Express Co. has been seeking certain sizeable international acquisitions in order to assist in its efforts to take advantage of a spike in demand for online commerce and mobile payments in emerging markets. Based on purchases, Amex is the largest issuer of credit cards in the world. Based in New York, it is now looking into deals in China and other developing regions, and, according to Messenger, it wants to make purchases of and investments into startups in Silicon Valley that…