Alternative marketing thinking

iCONTRACT

Impediments To Mobile Payments

A tussle between banks and mobile operators on exactly where the data security component should reside in a mobile phone is threatening to delay the widespread adoption of contactless mobile payments. Mobile phone operators want the security layer to be in the simcard, a device they control, while financial institutions want security mechanisms to reside on NFC (near-field communication) chipsets, which they regard as highly secure. According to ABI Research, without a full agreement, contactless payment based on NFC-equipped phones is likely to remain confined to pilot projects. Further complicating matters is that the cost of NFC chipsets, while declining, remains about twice what handset makers would like to see. More from Digital Transactions

Advertisements

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: