Near Field Communications Handsets and Tags, NFC Pilots and Projects

Hungary to host Mobile & NFC Payment Strategies conference

Tuesday, November 18, 2008

The Mobile & NFC Payment Strategies conference to discuss key business, market and technical challenges to developing a profitable and flexible payment portfolio will be held in Budapest, Hungary Nov. 24-27.

Examining the global growth in mobile banking, money transfer and remittance services and national and international m-payment standardization efforts are among the agenda topics. The four-day conference will also examine the business models which are emerging as a result of current mobile and contactless based services.

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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%.

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MasterCard’s stock dropped 3.6% on the recent announcement Verizon and AT&T are partnering with Discover and Barclays to launch mobile contactless payment services, but the company says it has its own ventures in diversified payments.

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The mobile payment market in China is expected to grow dramatically in the next two years, with the number of users exceeding 100 million by 2011, according to The Global Times.

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IE Market Research Corporation has announced the release of its new report, 3Q.2010 Global Mobile Payment Market Forecast, 2010 - 2014.

The report predicts that in 2010 alone, mobile payment users will exceed 500 million. This number is set to grow at a compound annual growth rate of of 20.5% to reach over 1 billion users in 2014, representing $1 trillion in transactions.

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Silicon Valley-based Cimbal has announced the public launch of its software-based NFC payment network. The network, which the company claims is the first of its kind in the world, enables secure payment and peer-to-peer transactions using a smart phone instead of a plastic card.

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Despite recent moves into mobile payment by giants such as Bank of America and Visa, US merchants may be hesitant to adopt the new technology, according to analysts at Reuters.

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