Following Target’s recent data breach, the retailer announced plans to speed up its transition to the chip-based payment standard called EMV, a move that could give mobile payments a boost.
Articles Tagged ‘NFC’
As mobile wallets’ use becomes more feasible, bar code-based payment applications are taking the lead followed by tab-based payment apps, while NFC-based payment apps barely keep pace, according to a new report.
Commonwealth Bank of Australia customers who own a Samsung Galaxy S4 can now pay for purchases using the bank’s mobile application at merchants accepting MasterCard PayPass contactless payments.
With the release of the iPhone 5S and 5C, we saw the death of mobile payment as we know it, and the hundreds of thousands of NFC-enabled retailers across the world are now scratching their heads about what to do next.
As competition in the mobile payments space continues to heat up, Isis is hoping to strike gold by giving iPhone users a way to take advantage of near-field communications payments.
The Isis mobile wallet will roll out nationwide later this year and will even make its way onto the iPhone, via a case with an embedded NFC chip. However, whether the necessary infrastructure is in place for wide-scale adoption is still a question.
MasterCard, Kalixa Group and DeviceFidelity are all working to launch the moneto mobile wallet in Britain to streamline mobile payments for consumers.
A number of near field communication-enabled devices are hitting the market and many marketers are experimenting with their own mobile payment technology. However, consumer education about NFC is still rather low and although the technology is somewhat new, 2013 may not be the year of contactless payments.
Mobile payments are not growing as quickly as previously expected, especially payments enabled by near-field communication technology, with the forecasted volume down more than 40 percent, according to a new report from Gartner.
Outdoor gear brand JanSport is leveraging QR codes and NFC to mobilize transit shelters around New York’s Union Square neighborhood and drive foot traffic into retailer Paragon Sports’ nearby location.