The coun
try has started accepting these smartphone based transactions at certain locations.
PVR Cinemas in India have just announced that they have now rolled out the very first NFC technology based mobile payments system within India.
This launch was designed to occur simultaneously with the availability of the new BlackBerry 10 platform.
The latest BlackBerry 10 devices are NFC technology enabled, which means that consumers will be able to make the choice from among a larger number of smartphones with near field communication capabilities. Now, PVR Cinemas has given them a specific reason to desire this state of the art tech, which is because it will give them a greater number of mobile payments opportunities.
The chain of movie theaters first thought they would used the NFC technology for watching trailers.
However, it soon changed its mind and added NFC technology based mobile payments to its sights – and then to its app – so that consumers would have the ability to purchase tickets and refreshments through the use of BlackBerry 10 (BB10) smartphones while at the cinema locations.
The hope is that the app will become the heart of a PVR Cinemas loyalty program for its customers. That said, as of yet, it is available only to consumers who own a BB10 based Z10 device. That said, the cinema will be expanding this compatibility range in May when it will be releasing Android, iOS, and other platform versions of its app, including those based on older BlackBerry operating systems.
At the moment, the NFC technology payments can be made only through the use of a prepaid account. As of yet, debit and credit cards are not compatible with the app. Moreover, it has been released in only a few of the total number of PVR Cinema locations. The initial roll out included 15 of the most popular cinema locations of the chain. Depending on its success, many are expecting that the mobile payments will also become available in additional locations over time, particularly as the other versions of the app are released so that it can be used by a much broader number of consumers.
Financial institutions becoming more invested in mobile payments
Financial institutions all over the world are becoming more interested in the concept of mobile payments. As consumers become more reliant on their smartphones and tablets, they are looking for new, more convenient ways to make purchases. Nearly everything that consumers do these days has some tie to the mobile world, making it more important for companies, like financial institutions, to cater to the demands of mobile consumers in order to remain relevant in a world that is changing around them.
Royal Bank of Canada takes a swing at mobile commerce
The Royal Bank of Canada has become one of the latest major financial institutions to begin embracing mobile payments. The organization has announced its entry into the mobile commerce arena this week with the demonstration of a new touch-free transaction system designed for smartphones. The system, which is linked to a new application call Interac, makes use of NFC technology to allow consumers to purchase goods and services. The use of NFC technology allows a smartphone to be used as a payment platform without having to make actual physical contact with anything, as the technology transmits data over a short distance.
NFC continues to worry consumers
NFC technology has been a staple in mobile payments for some time, but many consumers are becoming increasingly wary of the technology. NFC has been linked to several security risks in the past and can be exploited to gain access to a consumer’s financial information. A growing number of companies interested in mobile commerce are choosing to forgo NFC in favor of simple mobile payments applications or, in some cases, the use of QR codes to activate mobile transactions.
Security may not be a problem with Interac application
The Royal Bank of Canada has taken note of the security concerns that consumers have in regards to their financial information and NFC technology. Interac features numerous security measures that are closely tied to the financial institution’s own security systems. The application is considered safe enough to use for mobile payments and if the Royal Bank of Canada can placate the fears of consumers, it may be able to beat out the competition it has in the Canadian mobile commerce sector.
