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Wednesday, January 30, 2008

Mobile Payments Research

There are two new research reports on the market covering the topic of mobile payments.

The report from the Aite Group is titled “Contactless Payments and NFC in the United States: Beyond Science Fiction.” Included in the description of the report is the following quote: "It is widely accepted that a strategy of proliferation, even at a loss, is key to gaining traction for contactless payments," says Nick Holland, senior analyst with Aite Group and author of this report. "A solution would be for card networks and issuers to provide a contactless-specific category of interchange and fees for merchants. Once uptake levels have reached critical mass and contactless payments are entrenched, fee structure can be altered to afford networks and issuers greater opportunity for revenue generation." Read the full press release >>

The second report is from InStat and is titled “Cellphone Banking First Step toward Mobile Wallets in the U.S.” The InStat press release states that, “There is evidence that the U.S. market may overcome a crucial issue—technology incompatibility—and make progress during 2008 toward contactless payments using cellphones,” says David Chamberlain, In-Stat analyst. “Companies in several different sectors all ultimately want to deploy near field communications (NFC), the key enabling technology, into handsets as well as in merchant payment terminals.” Read the full press release >>

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