Mobile Payments &Near Field Communications (NFC)

U.S. mobile payments will total $214 billion by 2015, ballooning from $16 billion this year.

That’s an average annual growth rate of 68%.

* http://www.digitaltransactions.net/news/story/2808

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Paypal: Mobile Shopping Grew 310% On Black Friday, 27% Increase In Mobile Payments

* http://www.businesswire.com/news/home/20101127005008/en/PayPal-Black-Friday-Data-Reveals-Increase-Online

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5 types of

Mobile Payments

Mobile commerce (or m-commerce) uses the mobile handset as the gateway to online shopping.

Instead of buying items from your desktop or laptop computer, you would open an app or the mobile browser.

Mobile payments acceptance

Mobile Peer-to-Peer (P2P)Peer-to-peer (P2P) payments, as with other peer-to-peer services like music-sharing, are informal transactions made between two people.

Mobile Point of Sale (POS)Unlike mobile P2P technology, which may use text or a software application to transfer funds, mobile point-of-sale (POS) is all about hardware. 

What is Near Field Communications ?

NFC, or near-field communications, is a short-wave radio communications technology that provides a way for two devices to communicate small amounts of data when they're placed about four inches apart.

http://www.youtube.com/watch?v=2KTyFE3sfSo

Mobile Payment NFC Demo (YouTube)

What are we waiting for?

• Merchants reluctant to invest in smart terminals • Lack of mobile devices that support NFC

• Too many players involved

• Potential “leap frog” technology alternatives

AT&T Inc., T-Mobile USA Inc. and Verizon Communications Inc. formally announced their long-rumored mobile payments network Isis, which is working with Barclaycard US and Discover Financial Services to bring payment-enabled mobile phones to consumers.

The venture will be looking to operate an open network, adding that it will focus on mobile couponing and other commerce services in addition to payments.

Apple iTunes has well over 125 million active credit cards tied to accounts and they can tie it to a payment method of their choice.

• NFC will be included in “Gingerbread Release” • Extending NFC Capabilities:

• Replacing Hotel Keys• Location Tracking (incentives, couponing)• Airline Ticket Processing

Google Android

http://www.youtube.com/watch?v=AKOWK2dR4Dg

Web 2.0 Summit 2010: Eric Schmidt (YouTube)

REFERENCES

Eichenbaum, Peter. Discover Gets Historic Opportunity with Mobile Deal. Bloomberg. November 17, 2010. http://www.bloomberg.com/news/2010 11-17/discover-gets-historic-opportunity-with-mobile payments deal.html?cmpid=yhoo

McAfee, Seamus. Mobile Payments Predicted to Skyrocket. http://www.creditcards.com/credit-card-news/mobile-payments-predicted-to-skyrocket-1276.php

Ray, Bill. What will Google do with NFC? The Register. November 17, 2010. http://www.theregister.co.uk/2010/11/17/google_nfc/

Johnson, Andrew. Mobile Payments Set for Surge, But Who’ll Set the Pace? American Banker. November 17, 2010.http://www.americanbanker.com/issues/175_221/mobile-payment-venture-must-make-pitch-1028786-1.html

Segan, Sascha. What is NFC, and Why Should You Care? PC Magazine. November 17, 2010. http://www.pcmag.com/article2/0,2817,2372849,00.asp

Frommer, Dan. Mobile Carriers Launch a Payments Venture: Will Apple and Google Play Along? Business Insider. November 16, 2010. http://www.businessinsider.com/mobile-carriers-launch-a-payments-rocket-will-apple-and-google-play-along-2010-11

Van Grove, Jennifer. Google Will Soon Power Mobile Payments. Mashable. November 16, 2010. http://mashable.com/2010/11/15/google-mobile-payments/

Dolcourt, Jessica. Making Sense of Mobile Payment. Cnet. http://www.cnet.com/8301-17918_1-20013480-85.html

Photography Usage

http://www.flickr.com/photos/28568131@N06/4945175443/

http://www.gettyimages.com/Search/Search.aspx?contractUrl=2&language=en-US&family=creative&assetType=image&p=sb10065623c-001

www.toveri.com