Tag: nfc technology

Swatch may be entering the mobile payments space

| May 11, 2015

Swatch to introduce a new wearable device in the coming months

Swiss watchmaker Swatch has plans to sell an affordable wearable device that is capable of making mobile payments. The company has been showing more interest in wearable technology, especially as others begin developing such devices for the consumer market. Swatch is no stranger to wearable technology, as watches are a form of such technology themselves, but the company has not yet build what could be called a “smartphone worn on the wrist.”

New device will have mobile payments capabilities, supported by NFC technology

Swatch is expected to unveil its wearable device in either July or August of this year. The company believes that it will compete with Apple Watch, which was released in April. The device will be called the Swatch New Gent watch and will come equipped with NFC technology. NFC currently makes up much of the mobile payments infrastructure, serving as the tool that many platforms use in order to make mobile transactions possible.

Swatch may compete with Apple with its inexpensive wearable device

Mobile Payments - SwatchOne of the attractive features of the new wearable device is its pricing point. Swatch CEO Nick Hayek claims that the least expensive iterations of the new watch will cost approximately $5.49, a far cry from the $349 price tag of the least expensive Apple Watch. More advanced versions of Swatch’s watch will be more expensive, but not by much. The low price of the device could make the watch more attractive to consumers that are interested in wearable technology.

Swatch is forming partnerships to make its efforts in the mobile payments space a success

Swatch claims to be entering into a major deal with a global credit card company to bring its mobile payments interests into a reality. The company is also considering adding NFC capabilities to its other brands, but has not offered any details concerning this plan. The company may soon become a prominent player in the mobile payments space, if its plans with its wearable device move forward without trouble.

Mobile payments gain more support in Germany

| April 28, 2015

German companies are working together to promote mobile commerce throughout the market

NFC-based mobile payments are receiving more attention in Germany. The country’s retailers and mobile carriers are beginning to promote NFC technology as a way to participate in mobile commerce. A growing number of consumers have been demanding new mobile services that allow them to purchase products with their mobile devices. Many of these services are based on NFC technology, but relatively few German companies have embraced this technology in order to engage mobile consumers.

2,000 NFC-enabled payment terminals to be deployed in Germany

Vodafone Germany, Deutsche Telekom, and Telefonica are working with six major retailers throughout Germany to introduce new mobile point-of-sale terminals. Some 2,000 of these terminals are being provided to retailers in Germany. These terminals are equipped with NFC technology that will allow them to accept transactions being made from mobile devices. In order for these transactions to be conducted, however, the devices themselves will also have to make use of NFC technology.

NFC technology continues to play a major role in the mobile payments space

Mobile Payments - NFC TechnologyNFC-enabled mobile devices had been rare in the past, but these devices are now quite common throughout several prominent markets. NFC technology currently makes up the majority of the mobile payments infrastructure, and devices that are equipped with the technology have little trouble participating in the mobile commerce space. Retailers have been somewhat slow to embrace the technology, however, due to the costs associated with purchasing and upgrading existing point-of-sale terminals. With the help of other large companies, retailers may be able to mitigate these costs and establish a foothold in the mobile payments scene.

Germany’s mobile commerce market is beginning to become more lively

Germany’s mobile commerce scene is somewhat less active than what can be found in other markets. While consumers have shown significant interest in mobile payments, they have not shown aggressive support for services that allow them to pay for products with their smartphones and tablets. This may change in the coming years, as retailers become more accommodating of mobile shopping.