The mobile money wave sweeps on – and NFC is in danger of being left floating in the backwash. The recentKPMG report estimates the mobile payments transactions market will be worth $591 million by 2015, others think a trillion, but who’s counting. It is going to be big.
It is PayPal, not an established financial institution who is calling the shots. With the launch of PayPal Here, they have already expanded the scope of the offering, with tiers that cater for a wide range of commercial needs, both online and offline.
Almost every week there are announcements of new services in the mobile transfer and mobile payments space.
There is no doubt at all that mobile payments will be big, but whether NFC figures as a separate entity or disappears into a niche role is yet to be seen. We think it will vanish into the weave and weft of the virtual world but will be a critical and universal connector in the internet of things – the third interface.