Transport for London (TfL) has extended contactless payment support to the full Oyster network and operator EE has expanded its mobile micropayment service accordingly.
In a networked economy, everything is connected, tracked, personalised and direct. Over the past 12 months, we have most significantly seen an increase in the use of alternative payment methods having a big contribution to the networked economy we live in. Most notably we have seen a rise in mobile payments and there are now a number of key options available: Apple Pay, Google Wallet and CurrentC.
CaixaBank, one of Spain’s largest banks, has moved into the wearable payment technology space with the launch of an NFC-enabled wristband capable of making contactless payments. Security vendor Gemalto has supplied its Optelio Contactless MiniTag, which links the wristband to the user’s existing payment card.
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted.
Apple has been in a holding pattern for the past three years and has finally revealed a bunch of stuff it has been working on for a while. The two new phones feature the first major industrial design overhaul since the iPhone 4 and the Apple watch seems likely to significantly raise the bar in the wearables category. But the most significant announcement is probably Apple Pay, not just for Apple, but for the catalysing effect it could have on mobile commerce on the whole.
Apple today announced an unprecedented range of additions to its product catalogue, including the iPhone 6, 6 Plus, Apple Pay and Apple Watch. The keynote session in Cupertino, California, saw the unveiling of new NFC mobile payment capabilities to be built as standard into the new models, and the launch of the Apple’s foray into the wearable technology space with Apple Watch, as widely anticipated.
Multiple reports predict Apple will reveal partnerships with the major credit card providers as part of a new mobile wallet initiative that will be unveiled at the big annual iPhone launch, set for 9 September.
UK carrier EE this week enabled its own flavour of NFC, dubbed Cash on Tap, for London’s bus network, allowing customers to use their phone in lieu of an Oyster card or contactless debit card. Users will need an EE handset and an NFC-capable SIM.
Christian von Hammel-Bonten, EVP Telecommunications at Wirecard, talks to Telecoms.com at MWC2014 about payment acceptance and processing and the adoption of NFC and the challenges ahead.
Milan Gauder, Group Head of Emerging Payments, Europe at MasterCard, talks to Banking Tech at MWC2014 about mobile payments incorporating NFC and in-app payments. Both technologies have the opportunity to revolutionise commerce, he says.
Brazilian banking group Bradesco is planning to roll out NFC mobile payments across Brazil by summer 2014, through a partnership with mobile operator Claro and SIM card provider Giesecke & Devrient.
Four Asian mobile operators have teamed up to form an alliance to accelerate the adoption of NFC technology worldwide. Taiwan’s Chunghwa Telecom, Hong Kong’s HKT, Japan’s KDDI and SK Planet, a wholly owned subsidiary of South Korea’s SK Telecom announced the formation of the Asia NFC Alliance with the support of trade association GSMA at Mobile World Congress.
Operator group Vodafone has announced an NFC mobile payment service in Spain. The group plans to launch the service at the end of November, with launches in Germany, the Netherlands and the UK to follow.
Norwegian carrier Telenor has teamed up with DNB, the country’s largest bank, and identity management specialist Giesecke & Devrient (G&D) to introduce Norway’s first commercial NFC project.
The latest version of the Isis mobile wallet service has been launched across the US, following 18 months of testing in Texas and Utah by AT&T, T-Mobile USA and Verizon Wireless.
iPhone maker Apple looks to be considering adopting NFC as details of a patent application emerge for gifting media files from one iOS user to another.
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.