The financial institution has recently released an update for its Android application which supports NFC technology.

Barclays recently updated its Android mobile payments app in order to allow it to be able to complete contactless transactions through the use of NFC technology, for those whose devices support that tech.

This service will be available to customers with both the Barclaycard credit card and its mobile app.

This same mobile payments service update will not apply to the Barclays Mobile Banking app. The new service supporting near field communication (NFC technology) will make it possible for consumers to make purchases of up to £30 at participating locations. These contactless transactions are made without needing to enter a PIN or even having to open the mobile app. When Apple Pay launched in the United Kingdom, Barclays did not support the service and became the target of considerable criticism.

This launch of its own NFC based mobile payments service helps to explain the move from Barclays.

It appears as though the financial institution is working on taking its own solid stance when it comes to supporting smartphone based transactions. It will be interesting to see how things play out when Google brings Android Pay to the United Kingdom, as that service – which also uses NFC technology – has not yet been rolled out in the country. So far, many in the industry believe it will take Google more time before it will be ready for that launch.

Through the use of the updated Barclaycard mobile app, all users need to do to take advantage of the service is to enable the NFC technology on their smartphones. When it comes time to pay for a purchase at a point of sale counter with a contactless reader, users need only tap their devices against the reader to complete the transaction.

The mobile payments app operates in the background. This is meant to make the process much simpler for consumers because they will neither need to launch the app nor enter a PIN in order to make a small purchase. Certain retailers will allow larger purchases, as high as £100, to be completed without the use of a PIN.

Market outlook of the mobile content market

Market research analyst estimates the global mobile content market to exhibit an impressive market growth rate during the forecast period. The increasing adoption of smartphones and tablets is a critical factor that propels growth in this market and results in its striking market value of more than USD 170 billion by 2019.

Low entry barrier for content developers is the key driver for the growth of this market. The introduction of latest tools and software has facilitated the conversion of existing analog data into the digital format. This helps content owners to preserve and store their work in the digital format, which can be shared across multiple platforms. Since the procedure for publishing online content is simple and mostly free, the entry of new content developers in this market is envisaged to foster the prospects for growth during the forecast period.

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Segmentation by category and analysis of – games, video, audio

In this market study, analysts estimate the games segment to be the largest market segment during the forecast period. This segment currently accounts for more than 41% of the total market share and is envisaged to retain its dominating hold over the market by 2019 due to the availability of low-cost smartphones and tablets with high-end specifications.

This market study report offers an analysis of each of the following segments and discusses its impact on the overall market growth –
• Games
• Video
• Audio
• Text
• Others

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Segmentation by geography and analysis of – Americas, EMEA, & APAC
Geographically, the APAC region is estimated to be the largest market segment during the forecast period. Market growth in this region is facilitated by the presence of a large population of mobile device users, which results in its impressive market share of nearly 40% by 2019.

The market study offers an analysis of each of the following segments and discusses its impact on the overall market growth –
• Americas
• EMEA
• APAC

Competitive landscape and key vendors – Amazon.com, Comcast

The mobile content market is highly competitive due to the presence of multiple large and small vendors. These vendors compete on the basis of service differentiation, portfolio, and pricing to gain maximum prominence in the market. However, factors like intense competition, rapid advances in technology, and frequent changes in consumer preferences pose significant challenges to the vendors and may be detrimental to their growth during the forecast period.

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Leading vendors in this market are –
• Amazon.com
• Comcast
• DIRECTV
• Hulu
• Netflix

Other prominent vendors in this market are Apple, AT&T, Blinkbox, British Telecom, CinemaNow, Cox Communications, Crackle, Deutsche Telekom, DirecTV, Google, Indieflix, Popcornflix, Rovi, SnagFilms, Time Warner, Verizon, Vudu, and Youtube.