Tag: bluetooth

SIX aims to bring a nationwide mobile payments service to Switzerland

SIX and Swisscom to develop a new payment service for consumers

SIX, Switzerland’s financial infrastructure operator, has teamed with Swisscom, one of the largest telecommunications companies in the country, in order to expand mobile payments throughout Switzerland. The two organizations will be working with banks in order to establish a nationwide mobile payments service, which may help accommodate the growing demand for such a service coming from consumers. Many people are beginning to rely on their mobile devices to shop online, and companies like SIX and Swisscom have new opportunities to engage these consumers and find success.

New service will be based on Paymit mobile application

The new mobile payments service will be based on an existing application called Paymit, which was launched by SIX through a partnership with other companies earlier this year. The application acts as a peer-to-peer transfer service that allows users to send and receive funds using information stored in their Paymit accounts. The new mobile payments service will not only support online transactions, however, as it will also enable consumers to make mobile transactions in physical stores. This functionality is expected to go live in early 2016.

Bluetooth or NFC technology will power transactions made through the service in physical stores

Switzerland - Mobile PaymentsNFC technology is likely to play a role in the new payments service, as it has formed the backbone of mobile commerce for several years. NFC has been criticized in the past for having some security issues, but the technology is still used quite heavily when it comes to mobile payments. Bluetooth could serve as an alternative to NFC, but the mobile payments services is still in early stages of development and no technology has yet been settled upon.

Demand for mobile payments support continues to grow

Demand for mobile payments services has been on the rise in recent years. Large companies, such as Apple and Google, have already broken into this sector. For some, however, their payment services are not widely available outside of the United States. Despite this, consumers have found a wide range of mobile payments services that they have become interested in.

Report predicts promising year for mobile commerce platforms

Mobile commerce may find growth in 2014

Ovum, a leading market research firm, has released a new report concerning the potential growth of mobile commerce in 2014. Over the past few years, consumers and businesses alike have become quite serious when it comes to mobile shopping and payments in general. The past year has shown that retailers are becoming quite aggressive when it comes to engaging mobile consumers and consumers and becoming much more reliant on their smartphones and tablets than they were in the past. This has created a great deal of promise for 2014 in terms of mobile commerce.

Report highlights consumer support of platforms coming from banks

According to the firm’s report, consumers are becoming more likely to trust mobile commerce platforms that are associated with a financial institution. Banks and credit firms that release such platform tend to apply their own security standards to these services, thereby alleviating some o f the security concerns that consumers have regarding their financial information. According to Ovum, 43% of consumers prefer banks as their mobile payment service provider, with 13% favoring credit card companies.

2014 may be a big year for NFC technology

Mobile Commerce Platforms - Mobile ReportOvum’s report predicts that 2014 will be the year where NFC technology finally becomes mainstream. This technology has made up the backbone of many mobile commerce platforms, but has been losing popularity due to security concerns. NFC is quickly becoming a powerful marketing, entertainment, and data sharing tool, but Ovum suggests that its place in mobile commerce will begin to become more pronounced throughout the year as more NFC-enabled devices become available to consumers.

Bluetooth and location-based technologies may become more prominent in 2014

Apart from NFC, Bluetooth is expected to find its way to more mobile commerce platforms in the coming year. Many companies that have invested in the mobile commerce sector have opted to support Bluetooth as an alternative to NFC. Bluetooth has allowed more consumers to participate in mobile commerce because it is far more available to a wider range of mobile devices. Ovum’s report also suggests that location-based technologies will begin to play a much larger role in 2014 than they had in the past.