Online payments giant PayPal has been against NFC as a mobile payments platform, but that position may be changing. At a New York event where they are showing off mobile payment solutions including a tap-to-pay NFC setup.
WE’VE REVISED OUR TIME FRAME
The company historically insisted that app-based and web-based payments solutions would suffice, while NFC payments would take between three to five years to become stable and developed enough to be a viable payment solution.
GigaOm reports that the company will show off a tap-based NFC payment solution to retailers at an event in New York, alongside the other payment initiatives they’re driving. Sam Shrauger, who is the vice president of Global Product and Design at PayPal says: ‘If NFC gets to the point where retailers are adopting it at the point of sale and consumers are showing a propensity for using it, we will enable it, but we are not depending on it.’ Shrauger added that: ‘There’s no time frame for NFC, it just depends on the way the market moves. It could be next year or in five years.’
MOBILE SOLUTIONS HEATING UP
In the interest of prudence, PayPal has already developed an NFC payments solution in case it needs fast deploying. And given the rapid rate mobile payments solutions are developing at, coupled with the different strategies different companies are adopting and the challenges the industry is tackling on a daily basis, it’s only prudent they have a solution ready to deploy if NFC does, indeed, catch on.
WHAT IS NFC?
It is basically technology that allows ‘two devices embedded with chips to snuggle up together and transmit small pieces of data between each other when they are in close proximity. This data can be credit card information, coupons, tickets…you get the idea.’
Article from: http://www.mobile-computing-news.co.uk/industry-news/industry-news/7782/making-mobile-payments-work.html
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