What will consumers adopt and what will merchants accept in the mobile payment space?
Mobile payments and mobile wallets are a subject that has caught fire in the past few months, and it seems that people are making bets on where it will go. So far, everyone seems to accept that the future is mobile.
Researchers estimate that 2016 is the inflection point at which 50 percent or more terminals will be NFC capable.
NFC is being promoted as the payment method of the future, with VISA, MasterCard and Google as well as mobile phone manufacturers Samsung and Nokia making substantial commitments to the technology; But Apple’s decision to exclude a NFC chip from its new iPhone handset will threaten the adoption of contactless mobile payment systems.
But, for mobile payments, a battle for hearts and minds has started. In fact, there alot of questions still to answer, who will win and how will they accomplish it? Should you adopt NFC first, or cloud first? What is the right solution for mobile payments? What is the right “go-to-market” strategy?
At the MWC 2013, we hope to explore strategies where Mobile Payments are headed for. We at Winjit Technologies would be keenly exploring it during our participation at the event.