Tag: nfc technology

New mobile payments service emerges in Taiwan

| January 5, 2015

Country’s largest mobile payment company has launched

A new competitor has emerged in the mobile commerce space. Taiwan Mobile Payment Co., which is now Taiwan’s largest mobile commerce platform, has officially launched with the support of 32 of the country’s major financial institutions. The platform supports NFC-based mobile payments, allowing consumers with smartphones and tablets to make payments in physical stores that have NFC-enabled point-of-sale systems installed. The new platform may be welcome among consumers that have been looking for a new mobile payment service for some time.

New platform will leverage NFC technology to process payments and has strong support from Taiwan’s financial institutions

The mobile payments being made through the new platform will be processed through Taiwan Mobile Payment’s trusted service manager. This system will secure the financial information being used by the platform to authenticate payments. The platform will also support payments made through Visa and MasterCard and can be used to make purchases at more than 30,000 stores throughout the country. The platform also has strong support from various financial institutions, making it more accessible to a wide range of consumers.

Taiwan continues to grow as a prominent mobile commerce market

nfc mobile paymentsTaiwan is quickly becoming a very prominent mobile commerce market. Two other services have already emerged in the country, but consumers have been demanding a larger, more capable service for some time. Currently, Taiwan Mobile Payment is the largest mobile payment service provider in Taiwan and has been accredited by both Visa and MasterCard.

New service relies on NFC technology in order to facilitate mobile transactions made from devices equipped with NFC chips

The new mobile commerce platform is expected to work with 20 different smartphone models, most of which are Android devices. These devices are equipped with NFC technology, allowing them to interface with payment platforms that also use this technology. NFC currently makes up much of the backbone of the mobile commerce world. Some payment services have opted to avoid using NFC technology to make their platforms more accessible to those that do not have NFC-enabled mobile devices.

NFC-based mobile payments are growing quickly

| December 29, 2014

New study shows that NFC payments are becoming more common among consumers in the retail sector

NFC-based mobile payments are on the rise throughout the world, according to a new study from Strategy Analytics. The study highlights the growing adoption and availability of NFC-enabled mobile devices. These devices are equipped with NFC chips, which allow them to engage with interactive marketing materials, share digital information from one device to another, and participate in mobile commerce. As these devices become more plentiful among consumers, people are using them to shop online and purchase products from physical stores.

Study predicts that NFC-based mobile payments will represent $130 billion in global spending by 2020

The study shows that NFC-based mobile payments will account for $130 billion in global consumer retail spending by 2020. This is roughly similar to 254 million mobile consumers making as many as five mobile payments every month of $9 or less. The growing availability of NFC-enabled mobile devices and services is powering this growth in the mobile commerce field. One of the latest services to launch, Apple Pay, is having a profound impact on the growth of NFC-based payments.

Apple Pay helps promote mobile spending through NFC technology

Mobile Payments - NFCApple Pay was launched at the end of October this year, and has since become a prominent payment platform among iOS users. The service launched with the support of a wide range of retail partners, many of whom also adopted mobile point-of-sale systems to accommodate the growing number of those paying for products with their mobile devices. Services like Apple Pay are expected to continue powering the growth of the mobile payments field.

Some retailers are unconvinced of the value of NFC technology

Retailers have been relatively slow to embrace NFC technology. The cost of adopting NFC-enabled point-of-sale systems is often seen as too high for some retailers, while others are not yet convinced that mobile commerce is anything but a passing trend. As NFC devices become more popular among consumers, these retailers may change their minds and begin supporting mobile commerce more aggressively.