Monday, January 23, 2012

Mobile Payments Will Continue its Momentum in 2012

That is what one article predicts as more NFC enabled phones enter the market and companies sharpen their business models.   The article summarizes significant mobile commerce events of 2011 and provides a snapshot of what the market players are doing in this space.  Here are some of the highlights mentioned in the article:
  • Starbuck Corp. reported having nearly $26 million transactions since January 2011. They also managed to gain wide acceptance for mobile payments without Near Field Communication.
  • Square Inc. announced 1 million users of its mobile payment system.  It processes approximately $11 million each day without NFC. 
  • Google launched Google Wallet with Isis.  Isis gained pivotal partnerships with key industry players.
  • AT&T, Verizon, and T-Mobile USA are supposedly investing more than $100 million into Isis.
  • Isis signed Visa, Amex, and MasterCard Worldwide to its system.
  • Isis plans to pilot in Salt Lake City, Utah and Austin, Texas this year.  Consumers using Utah’s transit system can pay the transit fare using the mobile payment system. 
  • PayPal announced its mobile plan without NFC.
  • Smaller companies are signing agreements with wireless carriers for mobile payment options.  Companies like Boku, Danal, and Zong are finding niche markets in the industry.
  • Some predict if Apple launches an NFC-enabled iPhone that would create the market.   Apple owns 31 patents related to NFC technology.
  • A research firms predicts NFC handsets in 2012 will be close to 80 million, a 129% increase from 2011.


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