Tag: nfc technology

China developing a national mobile payments platform

| February 17, 2014

China to be one of the few countries to have a unified, national payments platform

China is currently working to develop a national mobile payments platform. Once the platform is launched, China will be one of the very few countries in the world to have a unified mobile payments system. Chinese consumers have been involving themselves in mobile commerce quite heavily in recent years. As mobile devices become more common throughout the country, people are using these devices to shop online more regularly. The country’s retailers have also been embracing mobile commerce in an effort to connect with a new generation of consumers.china - national mobile payments platform

Payment platform expected to make use of NFC Technology

China’s mobile commerce platform is to make use of NFC technology. The country believes that NFC has a bright future in mobile commerce because of the growing number of devices that are making use of this technology. NFC has formed the backbone of mobile commerce for some time and has been praised for its ability to transmit digital information over short distances efficiently. Unfortunately, mobile devices that do not support NFC technology are unable to use NFC-based platforms unless these platform offer support for devices that are not NFC-enabled.

Several organizations come together to help develop national payments platform for China

The China Constrction Bank, China CITIC Bank, China Everbright Bank, China UnionPay, and China Mobile have been linked to the development of the country’s national payments platform. These organizations already have some experience in mobile payments and have been promoting mobile finance for some time. According to the People’s Bank of China, mobile commerce is currently undergoing a standardization process wherein consumers are becoming more comfortable with purchasing products from their mobile devices.

Chinese consumers favor platforms that do not rely solely on NFC technology

Payments processed through NFC-based services represent approximately 0.8% of mobile spending throughout China. Many retailers have opted to support other mobile commerce services that do not rely entirely on NFC technology to engage consumers. Given the low availability of NFC-enabled devices, consumers have shown favor for NFC-free platforms that allow them to shop for and purchase products online.

UK mobile commerce platform partners with MasterCard

| February 12, 2014

Weve teams with MasterCard to accelerate adoption among businesses

Weve, an upcoming mobile commerce platform in the United Kingdom, has announced that it has partnered with MasterCard. This partnership is meant to make the launch of Weve throughout the UK smooth as well as accelerate the rate at which merchants adopt the platform. The United Kingdom is quickly becoming one of the most attractive mobile payments market in the world. More consumers are using their mobile devices to shop online, claiming that shopping from a mobile device is more convenient.Mobile Commerce & Payments Partnership

Weve aims to provide organizations with platform that can effectively engage consumers

Weve was introduced last year after it had won the approval of the European Union. The platform represents a joint venture from Vodafone, EE, and O2, three of the largest telecommunications organizations in the United Kingdom. Weve is meant to serve as an all-encompassing platform that banks, retailers, and advertisers can use to engage mobile consumers. Such platforms are becoming more important as consumers begin to rely more heavily on their smartphones and tablets in daily life.

Partnership with MasterCard may attract more attention to mobile commerce platform

In partnering with MasterCard, Weve may be able attract the attention of banks and other organizations more quickly. Banks and retailers typically invest in third parties to develop mobile commerce platforms for them, but these platforms are often quickly developed and offer limited features to consumers. Through Weve, businesses will have a well-developed platform they can use to engage consumers more effectively and provide these consumers with a favorable experience.

Weve may not win favor with iOS consumers without NFC devices

Weve anticipates that it will see widespread rollout in the United Kingdom beginning in 2015. The platform is expected to be used as part of more than 300,000 point of sale systems in the country. The problem, however, is that the platform is based on NFC technology, meaning that those without NFC-enabled mobile devices, such as those with iOS devices, will not be able to make use of Weve. This could limit the potential acceptance than Weve receives in the United Kingdom.