Tag: mobile payments system

On Track Innovations receives massive order for NFC terminals

| October 18, 2012

 

On Track Innovations announces $2 million order for NFC terminals

On Track Innovations, a leading developer and marketer of NFC-enabled products, has announced that it has received a $2 million order for its NFC payment terminals. These terminals are able to facilitate mobile transactions between a business and consumer at point-of-sale through the interpretation of digital information transmitted by an NFC-enabled mobile device. The demand for these terminals has been growing quickly in recent months due to the expansion of mobile commerce and the growing availability of NFC-enabled devices.

Company plans to deliver systems throughout 2013

On Track Innovations plans to deliver its NFC terminals to its customers during the latter months of 2012 and throughout 2013. The company notes that the $2 million order it has received represents orders from several companies around the world, all of which are preparing for the arrival of NFC-enabled devices and the growth of mobile commerce. The terminals will allow these companies to accept mobile payments from platforms supported by MasterCard, Visa, American Express, Discover, and other financial institutions.NFC Terminals

On Track Innovations has already delivered 50,000 units this year

Earlier this year, On Track Innovations announced that it had delivered more than 50,000 NFC terminals to customers around the world, with many located in Europe and the U.S. Both regions represent the strongest growth of the mobile commerce industry, with the penetration of NFC-enabled mobile devices being highest in these markets. These markets have proven the most attractive to mobile commerce companies because of the high interest consumers seem to have in mobile payments.

Mobile commerce growth driving demand for NFC terminals amongst businesses

The companies that have ordered NFC terminals from On Track innovations have not yet been disclosed. The identity of these companies may be revealed at a later date, at the discretion of On Track Innovations. For now, the order represents a sign that the mobile commerce industry is establishing a stronger presence around the world and pushing companies to prepare to serve consumers that are eager to participate therein.

TSYS introduces new NFC technology based service for businesses

| October 10, 2012

 

TSYS unveils NFC Payment Solution

Total System Services (TSYS), a leading financial services company in the U.S., has introduced a new NFC-based service for its North American clients called the TSYS NFC Payment Solution. The service will be launched with the help of CIBC, another affluent financial services firm serving North America. The new service is designed to make mobile transactions and account logistics more convenient for businesses. TSYS is one of the latest companies showing support for NFC technology in its work to bring the technology into the world of business.

NFC and mobile commerce continue to grow

NFC technology is the crux of mobile commerce. The technology turns smart phones and other mobile devices into mobile payment platforms. This allows these devices to be used to make payments for goods and services in a similar manner to credit cards. Mobile commerce has proven to be a popular idea amongst consumers, but the business world has relatively few options when it comes to NFC-based sNFC Technology for mobile payments industryervices. TSYS hopes to change that through the introduction of its own service.

Service allows businesses to better serve consumers

The NFC Payment Solution allows users to create mobile accounts, identify mobile devices, and generate financial data that will be used with a specific mobile device. The service represents a step forward for TSYS’ “Connected Mobility” campaign, which was announced earlier this year. The campaign aims to provide businesses and financial institutions with a way to better serve consumers who are interested in mobile commerce. Through this campaign, TSYS aims to support the existing NFC-based services that businesses have as well as facilitate the development of new services for consumers.

Lack of NFC-enabled mobile devices may stunt growth of mobile commerce industry

Mobile commerce is proving to be a powerful industry and has shown exceptional growth in its relatively short lifetime. The most significant problem facing the industry, however, is the low availability of NFC-enabled devices. Companies like TSYS have ensured that the mobile commerce infrastructure is prepared to support a large number of consumers, but without NFC-enabled mobile devices, these consumers cannot actually engage in mobile commerce.