Mobile NFC Payment Adoption in Two Years?
Mobile Near Field Communication (NFC) payments have recently become the hot topic of many debates, but there has been a lot of speculation as to when such services will actually be available.
Towards the end of 2010, wireless branches of Verizon, AT&T and T-Mobile launched a prototype of a contactless mobile payment system, coined Isis. The current concept is rapidly gaining support, especially since Google recently announced their partnership with Citi and Mastercard, in conjunction with First Data, in order to begin testing the app.
In fact, although an up-and-coming technology, NFC is actually the most widely accepted by stakeholders. While this is promising news, I did come across an article from Time that offered somewhat of a timeline for the adoption and implementation of NFC as a form of common communication. The synopsis of the timeline is as follows:
End of 2011
A growing number of retailers will experiment with mobile tools, such as location-based mobile couponing, until they become more mainstream. Actual NFC payment will have to wait.
While you’ll still have to carry your wallet, rest assured that the mobile payment revolution will be under way.
Analysts predict this is the first year we could see NFC payment programs of significant level on a national scale.
Full-featured mobile wallet platforms will be developed that will be able to include everything beyond just payment, such as ID, transit cards, event tickets, etc.
Personally, I agree that 2013 is a fairly realistic prediction for mobile NFC payment to really take off. In early 2009, most people thought that QR codes would never catch on in America, but two short years later, America is actually the number one scanner of QR codes on a global level. So, just give it two more years and NFC mobile payments should be underway.