Convergence of Market Factors Creates Opportunity for Mobile Phone Payments at the POS

Monday 18 April 2005 14:28 CET | News

A convergence of market forces and technical advances is driving increased interest in using more capable mobile phones for payment at the physical point-of-sale. This confluence provides opportunities for the United States mobile and financial industries.

A new Smart Card Alliance report, Mobile Payments at the Physical Point-of-Sale: Assessing U.S. Market Drivers and Industry Direction, provides an in-depth discussion of the business opportunities, market trends, and alternative technologies and payment models for mobile payment implementation. Also covered in the report are the mobile payment implementations that have been deployed worldwide; the technology and payment model that are likely to be used in the U.S. market; the potential impact of the current financial industry contactless payment programs; and the opportunities and challenges for implementing mobile payment in the U.S. The United States represents relatively uncharted waters for mobile payment, with only a few pilot projects for physical POS purchases underway. The Smart Card Alliance has an active Terminal and eTransaction Infrastructure Task Force. Individuals from 18 organizations in this Alliance Task Force were involved in the development of this report. Lead contributors included representatives from American Express; Atmel Corporation; Axalto; Catalyst Business Partners; Hypercom®; IBM; Infineon Technologies; JCB International Credit Card Co.; OTI America; Smart Commerce, Inc.; Sony Electronics Inc.; SMART System Technologies, Inc.; Visa USA; ViVOtech, Inc.

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Keywords: ,
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce