Tag: nfc mobile payments

Interest group to tackle issues concerning NFC technology

NFC technology was once the cornerstone of mobile commerce. The technology helped bring mobile payments into the limelight because of its ability to facilitate quick data transfer from one device to another. While NFC technology is still a focus in some areas of mobile commerce, the industry is beginning to move away from the technology because of its relatively low adoption rate and concerns regarding its security. The NFC Forum, a trade association that developers standards for the use of NFC technology, has created an interest group that aims to explore the ways the technology can be used in the realms of mobile payments and transportation.

NFC Forum aims to promote use of technology for transportation and mobile payments

The NFC Forum has been promoting the capabilities of NFC technology, especially when used in mobile commerce, for more than a decade. The organization has established many of the standards that govern the use of the technology today. The NFC Forum has been seeing the position of the technology in the mobile commerce realm steadily diminish and has been looking for ways to encourage the continued use of the technology as a medium for mobile payments.

NFC could be very useful in the realm of transportation

The new interest group established by the NFC Forum aims to discover new ways to use NFC technology for mobile payments and for transportation. In terms of mobile commerce, the use of the technology is fairly straightforward, but the group will focus on finding ways to improve the efficiency and security of NFC-based mobile payments. The technology does have some promise when it comes to transportation, as it can be used as a storage medium for electronic tickets for various forms of public transportation.

NFC allows for use of electronic tickets

Using NFC technology, a consumer can store electronic tickets on their mobile device. When they are ready to board a plane, for instance, they can use their mobile device to present their boarding pass, removing the need for physical tickets. NFC has a variety of uses, but there exists a lack of NFC-enabled devices that enable the widespread adoption of this technology. The interest group will focus on highlighting the capabilities of NFC technology in order to encourage its adoption among consumers, businesses, and other parties.

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.