Tag: nfc mobile payments

Ingenico Group compiles predictions being made by prominent mobile commerce players

With January coming to a close, predictions concerning how mobile payments will fare in 2016 are beginning to emerge. Ingenico Group, one of the world’s largest suppliers of mobile payments terminals, has aggregated the predictions coming from many of the groups most involved in mobile commerce. These predictions highlight the trends that are beginning to emerge in the mobile commerce space, which may go a long way in determining whether or not consumers will actually use their mobile devices to purchase products.

Mobile point-of-sale systems will be more common in the coming months

Creditcall, a payment service provider, predicts that mobile point-of-sale systems will become more common throughout the world. This is being driven by the number of credit card companies that are including new chips in their cards. Retailers are also driving the growing adoption of mobile point-of-sale systems, but they are also beginning to use mobile technology to process transactions made by consumers. More merchants are expected to begin using devices, like the iPad, to expedite the checkout process.

NFC technology is beginning to gain more support from retailers and other businesses

NFC technology is expected to see significant growth, in terms of adoption, this year. This technology allows for digital information to be transmitted over short distances. NFC has made up much of the mobile payments environment for several years and it is becoming more important for retailers to embrace this technology in order to effectively engage consumers. Retailers are also feeling increased pressure to embrace omni-channel strategies. Ingenico Group predicts that more retailers will adopt such strategies to provide better services and engagement to consumers.

Security remains one of the greatest challenges facing mobile payments

Security will likely be a prominent focus for those involved in mobile payments this year. Many consumers avoid mobile payments services because of concern that their financial information could be stolen and exploited. Organizations invested in mobile commerce are likely to make use of new technology to ensure consumer protection. An increased focus on security may ensure that consumers become more comfortable with the concept of mobile payments.

The agreement has been designed to give the two companies a new opportunity in the Ghana market.

Verifone Mobile Money has now partnered with Airtel Ghana in order to be able to provide a new mobile payments solution that is based on NFC technology that can be used through mobile devices within that country.

The near field communication based service will make it possible for consumers to “tap and pay”.

The idea behind the partnership is to be able to use this NFC technology to be able to provide consumers with a simpler and easier method of paying for the products and services that they wish to purchase. The transactions are designed to be both convenient and secure. This partnership will bring the strengths of both companies into a single transaction service that will become widely available.

The NFC technology based transactions will be available at a range of sale outlets across Ghana.

These mobile payments will be available to be used by owners of NFC enabled devices at the many Airtel Merchants as well as other point of sale outlets throughout the country. This will provide a process for completing transactions that is very quick and easy. Once a customer reaches the checkout counter, all he or she needs to do is tap the near field communication enabled smartphone against a reader device in order to launch a payment by way of the individual’s mobile wallet.

That said, it will also be possible for people who don’t have NFC enabled smartphones to be able to pay by way of this technology by using an enabled sticker that will also give them the technology that they require.

The Verifone Mobile Money chief executive, Chris Jones spoke about the NFC technology based payments agreement between the two companies, saying that it “will deliver developed world technologies to the customers of Airtel Money. We believe that NFC technology and the roll out of contactless “tap and pay” across the African continent will help to realize the true economic benefits of cashless economies while driving mobile money adoption through an improved merchant payments experience.”