Mobile wallets not taking off as many had hoped

Mobile Payments NFC Technology

Smartphone payments are increasing in popularity but far more sluggishly than many predicted. Though mobile wallets have been greatly hyped and have remained at the head of m-commerce news since the very first idea was conceived, the fact of the matter that very few people actually have them and that businesses outfitted to accept these payments aren’t finding that customers are interested in using this option. Salt Lake City was meant to be one of the centers that launched this technology. It is one of two cities that have been…

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Predicted Apple and Google Wallet will pressure MNOs into heavy mobile payment rivalry

Mobile Commerce

Mobile wallets are at our doorstep, and though mobile network operators (MNOs) will be offering most of the mobile wallets based on NFC, from 2012 to 2016, their massive slice of the market will begin to decrease in size as Apple and Google start to draw their own loyal users. According to ABI Research senior analyst for mobile commerce and NFC, Mark Beccue, by the end of 2012’s fourth quarter, “Google will prove that Google Wallet is a hit with consumers. By 2014, we will see Google Wallets supported alongside…

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

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…

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