mobile payments sector Archives

Mobile payments success for banks will depend on credibility

04/23/201304/22/2013 Jennifer Goula

The financial sector is working hard to distinguish itself in this industry where the competition is fierce. It wasn’t all that long ago that the financial sector – primarily banks and major credit card providers – were essentially the only consideration when it came to completing transactions, but the addition of mobile payments is drastically changing this environment. Buying goods and services can now be performed in a number of different ways, and banks aren’t automatically among them. Mobile payments – that is, paying directly through a smartphone or tablet…

Mobile payments standard to be created in China

11/30/201211/28/2012 John Montgallo

The People’s Bank of China has announced that it intends to create a national standard. There may be a mobile payments national standard available in the near future for China’s smartphone users, as the People’s Bank of China has announced its intentions to create one, said the vice-director of its science and technology department, Lu Shuchun. It is expected that the standard will use the 13.56 MHz internationally common technology. This is based on the assumption that near field communication (NFC technology) in smartphones will become the center of the…