Thursday, June 16, 2011
Mobile Wallet is the Next Big Thing
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Mobile users will soon discard their credit and debit cards as they will be able to make payments with their mobiles. Yes, the new technology called the mobile wallet will soon change the way people make payments for their various purchases. It offers a convenient alternative payment system for mobile users as they will not have to worry about carrying cash or credit card. The system will be very convenient as mobile phones now function as a wallet. So be it a cup of coffee or travel, mobile users just have to wave their NFC-enabled mobile devices at shops to make their payments.
The service is made possible with Near Field Communication (NFC), the short-range wireless technology that supports a wide range of wireless payment systems. Many leading companies are launching this new system. Google recently announced its mobile payment system called Google Wallet that allows users with NFC-enabled devices to use their phones for mobile payments. Mobile users can make payment by just tapping their phone on an NFC-enabled terminal. Those who does not have NFC chips in their phones need not sell their mobiles for mobile phone recyclinmg get a mobile with an NFC chip. Google will soon release a special sticker, which will act as an NFC chip for NFC chipless phones.
In the UK too mobile users will soon be able to make payments for various purchases with their mobile phones. Yes, Orange and T-Mobile has joined hands to offer the new payment service here to the mobile users by summer this year. Many leading shops including McDonalds, EAT, Pret-a-Manger and the National Trust has already signed up for the system. Orange is in talks with Barclaycard to launch this new service and already over 40,000 businesses have shown interest in the system. Initially, the service will allow payments of small amounts up to ₤15 only. More services are expected to roll out before the Olympic games 2012 begin in London. It’s expected that transactions, transport and tickets will all be available through this system. Though mobile payment system has been in use in Japan and Korea for many years now, mobile wallet is gaining popularity in the UK only in recent times.
Mobile wallets are a cool and convenient way to make payments. The best thing is mobile users with NFC chipless phones need to worry about whether to sell my mobile phone or not as they too can avail this system with use a sticker. What's more, the handset need not have its battery charged for making payments.
In the UK too mobile users will soon be able to make payments for various purchases with their mobile phones. Yes, Orange and T-Mobile has joined hands to offer the new payment service here to the mobile users by summer this year. Many leading shops including McDonalds, EAT, Pret-a-Manger and the National Trust has already signed up for the system. Orange is in talks with Barclaycard to launch this new service and already over 40,000 businesses have shown interest in the system. Initially, the service will allow payments of small amounts up to ₤15 only. More services are expected to roll out before the Olympic games 2012 begin in London. It’s expected that transactions, transport and tickets will all be available through this system. Though mobile payment system has been in use in Japan and Korea for many years now, mobile wallet is gaining popularity in the UK only in recent times.
Mobile wallets are a cool and convenient way to make payments. The best thing is mobile users with NFC chipless phones need to worry about whether to sell my mobile phone or not as they too can avail this system with use a sticker. What's more, the handset need not have its battery charged for making payments.
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