MarketsandMarkets has released a new report predicting that the value of mobile payment transactions in the US will reach $56 billion in 2015.
According to the report, “Mobile Payment - Advanced Technologies (NFC), Strategies And Future Of Remote & Proximity Payment In US,” the market for NFC mobile payment in the US is currently in its infancy, with an adoption rate of only 1.7%.
New analysis from Frost & Sullivan shows that current smart card-based transit projects in growing European and world cities will lead to an 11% Compound Annual Growth Rate (CAGR) in smart card shipment from 2009 to 2015.
Visa Europe has announced that 12 million of its contactless payment cards are expected to be in circulation in the UK by the end of this year - a marked leap from the previously estimated 10 million.
While new high-tech vending machines are being released with options such as touch screens, nutritional information displays, wireless coin dispensers, stock monitors and biometric payments, some feel the idea of moving forward with biometric-based payments on the devices may not work yet, according to a Retail Solutions Online article.
eNational Payments, a provider of mobile and contactless electronic commerce and payment processing services, has a entered into a strategic partnership with Mocapay, enabling its merchants and retailers access to Mocapay’s secure mobile payments solution and mobile marketing engine to reach customers in real-time.
Bank of America will be testing NFC payments enabled through microSD cards, a spokesperson for the bank tells NFCNews.com. The program will begin in September and run through the end of the year in New York.