Contactless cards and mobile phones will merge
to change the way consumers and retailers conduct
purchase transactions, says analyst group Javelin Strategy
& Research.
Chips embedded in consumer mobile devices will eventually
replace payments cards and will spur 30 million additional users in
the US over the next five years, says Javelin.
Javelin sees enhanced mobile phones as the way to introduce
electronic payments capability to a larger number of consumers, by
integrating new contactless capabilities to provide increased
control and convenience.
Javelin says networks and issuers need to motivate wireless
carriers to support mobile proximity payments in order to bring
advanced payments technology into the mainstream.
Javelin president James Van Dyke, said,
“
Banks and technology companies are working hard to make contactless
cards available now, but contactless in card form is an
insignificant train stop en route to the important destination of
mobile payments.
“The bottom line is that these two separate business initiatives
- contactless cards and mobile payments - must merge into one now,
in order to make both a reality,” he said.
More on
Javelin’s mobile research >>
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>>
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>>
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