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TheMobileBuzzMobileBuzz
The
Opportunities on ortunities on larger merchants seem destined to adopt near field
Opp
larger merchants seem destined to adopt near field
communication (NFC) -based mobile contactless payments
communication (NFC) -based mobile contactless payments
mobile horizon
mobile horizon as a by-product of the transition from the mag stripe card as a by-product of the transition from the mag stripe card
to the Europay/MasterCard/Visa chip card standard.to the Europay/MasterCard/Visa chip card standard.
NFC-enabled POS devices and other mobile applications NFC-enabled POS devices and other mobile applications
W with mobile payments, the one thing they h mobile payments, the one thing they countertop and find new ways to enrich the shopping countertop and find new ways to enrich the shopping
will help large retailers "expand their reach beyond the will help large retailers "expand their reach beyond the
h
hen merchants ponder their way forward en merchants ponder their way forward
wit
experience,"experience,"
said.said.
VeriFoneVeriFone
independentindependent
Smaller,Smaller,
kn
know for sure is that consumers are start-ow for sure is that consumers are start-
W ing to expect the option of paying for in-ing to expect the option of paying for in-
routinely adapt smartphones to accept mobile payments routinely adapt smartphones to accept mobile payments
stor
store purchases with mobile devices. It is left to merchants e purchases with mobile devices. It is left to merchants merchants have taken a different path, however. They merchants have taken a different path, however. They
and t
and their service providers to figure out the rest.heir service providers to figure out the rest. and pay providers a flat fee for processing. But, as VeriFone and pay providers a flat fee for processing. But, as VeriFone
pointed out, that fee grows less cost effective the more pointed out, that fee grows less cost effective the more
An Au
An August 2013 white paper from VeriFone Inc. recognizes gust 2013 white paper from VeriFone Inc. recognizes card-based transactions a merchant conducts.card-based transactions a merchant conducts.
t that merchants need help in understanding the mobile hat merchants need help in understanding the mobile
payment options and need guidance when deciding ayment options and need guidance when deciding
p VeriFone said that, despite these trends, many small VeriFone said that, despite these trends, many small
which ones are right for them. In Keeping Pace with hich ones are right for them. In Keeping Pace with
w to midsize merchants are hesitant to proceed for fear of to midsize merchants are hesitant to proceed for fear of
Mo
Mobile Payment, VeriFone likened the developing mobile bile Payment, VeriFone likened the developing mobile becoming locked-in to solutions that could prove obsolete becoming locked-in to solutions that could prove obsolete
payments sphere to the fragmentation of the PC and cell ayments sphere to the fragmentation of the PC and cell in the fast evolving ecosystem. VeriFone noted that the in the fast evolving ecosystem. VeriFone noted that the
p
phone markets in the early days, when confusion and one markets in the early days, when confusion and "promise of mobile payments and related applications "promise of mobile payments and related applications
ph
skepticism were prevalent. "[B]ut today life without either e prevalent. "[B]ut today life without either
skepticism wer is too great to ignore and those who do so risk losing is too great to ignore and those who do so risk losing
is unimaginable," the paper stated. "Mobile payment is s unimaginable," the paper stated. "Mobile payment is customer loyalty to more adaptive competitors." customer loyalty to more adaptive competitors."
i
f
following a similar path."ollowing a similar path."
The good news is that once merchants take their first steps The good news is that once merchants take their first steps
NFC and one-rate-fits-allC and one-rate-fits-all
NF into mobile payments, a rich array of value-added services into mobile payments, a rich array of value-added services
will follow – services such as couponing and loyalty will follow – services such as couponing and loyalty
T
The mobile payments landscape is indeed fragmented, he mobile payments landscape is indeed fragmented,
wit
with no scheme or player dominating. VeriFone said h no scheme or player dominating. VeriFone said applications that VeriFone is confident will create new applications that VeriFone is confident will create new
opportunities for merchants and consumers alike. opportunities for merchants and consumers alike.
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33
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The
Opportunities on ortunities on larger merchants seem destined to adopt near field
Opp
larger merchants seem destined to adopt near field
communication (NFC) -based mobile contactless payments
communication (NFC) -based mobile contactless payments
mobile horizon
mobile horizon as a by-product of the transition from the mag stripe card as a by-product of the transition from the mag stripe card
to the Europay/MasterCard/Visa chip card standard.to the Europay/MasterCard/Visa chip card standard.
NFC-enabled POS devices and other mobile applications NFC-enabled POS devices and other mobile applications
W with mobile payments, the one thing they h mobile payments, the one thing they countertop and find new ways to enrich the shopping countertop and find new ways to enrich the shopping
will help large retailers "expand their reach beyond the will help large retailers "expand their reach beyond the
h
hen merchants ponder their way forward en merchants ponder their way forward
wit
experience,"experience,"
said.said.
VeriFoneVeriFone
independentindependent
Smaller,Smaller,
kn
know for sure is that consumers are start-ow for sure is that consumers are start-
W ing to expect the option of paying for in-ing to expect the option of paying for in-
routinely adapt smartphones to accept mobile payments routinely adapt smartphones to accept mobile payments
stor
store purchases with mobile devices. It is left to merchants e purchases with mobile devices. It is left to merchants merchants have taken a different path, however. They merchants have taken a different path, however. They
and t
and their service providers to figure out the rest.heir service providers to figure out the rest. and pay providers a flat fee for processing. But, as VeriFone and pay providers a flat fee for processing. But, as VeriFone
pointed out, that fee grows less cost effective the more pointed out, that fee grows less cost effective the more
An Au
An August 2013 white paper from VeriFone Inc. recognizes gust 2013 white paper from VeriFone Inc. recognizes card-based transactions a merchant conducts.card-based transactions a merchant conducts.
t that merchants need help in understanding the mobile hat merchants need help in understanding the mobile
payment options and need guidance when deciding ayment options and need guidance when deciding
p VeriFone said that, despite these trends, many small VeriFone said that, despite these trends, many small
which ones are right for them. In Keeping Pace with hich ones are right for them. In Keeping Pace with
w to midsize merchants are hesitant to proceed for fear of to midsize merchants are hesitant to proceed for fear of
Mo
Mobile Payment, VeriFone likened the developing mobile bile Payment, VeriFone likened the developing mobile becoming locked-in to solutions that could prove obsolete becoming locked-in to solutions that could prove obsolete
payments sphere to the fragmentation of the PC and cell ayments sphere to the fragmentation of the PC and cell in the fast evolving ecosystem. VeriFone noted that the in the fast evolving ecosystem. VeriFone noted that the
p
phone markets in the early days, when confusion and one markets in the early days, when confusion and "promise of mobile payments and related applications "promise of mobile payments and related applications
ph
skepticism were prevalent. "[B]ut today life without either e prevalent. "[B]ut today life without either
skepticism wer is too great to ignore and those who do so risk losing is too great to ignore and those who do so risk losing
is unimaginable," the paper stated. "Mobile payment is s unimaginable," the paper stated. "Mobile payment is customer loyalty to more adaptive competitors." customer loyalty to more adaptive competitors."
i
f
following a similar path."ollowing a similar path."
The good news is that once merchants take their first steps The good news is that once merchants take their first steps
NFC and one-rate-fits-allC and one-rate-fits-all
NF into mobile payments, a rich array of value-added services into mobile payments, a rich array of value-added services
will follow – services such as couponing and loyalty will follow – services such as couponing and loyalty
T
The mobile payments landscape is indeed fragmented, he mobile payments landscape is indeed fragmented,
wit
with no scheme or player dominating. VeriFone said h no scheme or player dominating. VeriFone said applications that VeriFone is confident will create new applications that VeriFone is confident will create new
opportunities for merchants and consumers alike. opportunities for merchants and consumers alike.
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