Income will multiply due to the influence of mobile payments and mcommerce through massive partnerships.
Both Visa and MasterCard have come out with their latest mobile payments strategies, based on NFC technology and other methods that will help consumers to more comfortably and conveniently use their smartphones to pay for their purchases.
These new methods and channels will soon become central to a massive revenue growth for the companies.
All of the largest players in this arena are standing behind NFC technology as a central element of the success of their mobile commerce and payments efforts. This has been further solidified through a large number of partnerships that are being made with these companies, as well as wireless service providers, mobile security companies, and device makers.
It is likely that these deals will allow NFC technology to revolutionize mcommerce.
Though mobile commerce is still quite new, it is already expected that it is ready to be turned on its head once more as NFC technology becomes more commonly implemented into devices and more frequently used by consumers.
Investors are also starting to see the value of these deals that are centered around the successful implementation of NFC technology. From that standpoint, the use of near field communication could be a significant game changer that can result in tremendous revenue increases for credit card companies. Some of the partnerships that have taken place recently include Visa’s deal with Samsung and when MasterCard teamed up with VeriFone Systems.
The NFC technology based mobile payments services will allow devices to be used as a type of mobile wallet. In this sense, consumers can step up to the checkout counter of participating merchants and simply tap their smartphones against a reader device in order to complete a payment transaction. These services can also be applied to coupon redemption and loyalty program points collections, among others.
The goal of the NFC technology wallets is to make shopping far more convenient, so that everything from the points cards to the discount coupons and the payment methods themselves can all be contained in one secure location that many consumers already have.
About Julie Campbell: With a solid background in writing and translation Julie has built her career on digging up fascinating and hard-hitting news stories. For over a decade, she has focused on the impact of technology on the world of commerce and has taken a specific interest in emerging mobile channels.
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