Mobile Communications International April 2012
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Near field communication (NFC) mobile wallet services are finally gaining momentum, according to research from Berg Insight. The firm reported that there were mobile wallet services commercially live in 13 countries worldwide at the end of 1Q13, up from just six countries at the end of 2011.
NFC technology advocates face continued disappointment in 2013 as it is likely to be overshadowed by other developments in retail payments, according to a report by financial research firm Celent.
For many years, near-field communications (NFC) technology has been touted as the next big thing; an opportunity for operator to get themselves into the payment space. However, the technology is yet to take off outside of select markets and now faces continued disappointment in 2013, when it is likely to be overshadowed by other developments in retail payments, according to a new report by financial research firm Celent.
Mobile and NFC payment technologies have been on the rise in recent years. But with many merchants and retail outlets still reluctant to invest in the new technologies, and with the rise of fraud in existing solutions, industry participants are divided over how and whether the technology will ever gain widespread acceptance in developed markets.