Sybase 365: Adoption of NFC Payments at Least Two Years Away

    By: Mr. Adrian Bridgwater on Mar 12, 2012

    Sybase 365 continues to lead much of the news-stream emanating from Sybase’s corporate headquarters these days.  This major division of Sybase has used its appearance at the GSMA Mobile World Congress 2012 in Barcelona to analyse the market’s leading trends in relation to Near Field Communications (NFC) technologies.

    Explanatory Note: Near field communication (NFC) is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few centimetres.

    Existing and anticipated applications include:

    • contactless transactions,
    • data exchange,
    • simplified setup of more complex communications such as Wi-Fi.

    According to Sybase 365’s NFC survey, 81 percent of respondents believe that NFC will not become a driver of widespread adoption of mobile payments for at least another two to five years. Less than 10 percent of survey respondents think NFC mobile payments will become mainstream within the next year.

    Consumer perception problems

    Another key finding from this year's survey highlighted “consumer perception” of mobile payment security and how it will inhibit the growth of mobile payments. Thirty-eight percent of survey respondents believe that consumer concern over security of personal financial information exchanged during mobile transactions will be the leading obstacle to large-scale adoption of mobile payments.

     

    "Mobile payments are arguably the leading topic of discussion in the mobile commerce ecosystem," said John Sims, president, Sybase 365. "With our extensive global experience in innovative mobile commerce deployments, Sybase 365 has been defining consumer best practices and fostering acceptance of all mobile payment channels. As the ecosystem further develops and matures, we will continue to enable collaboration and communication between mobile operators, financial institutions and enterprises to drive mass-market adoption of mobile payments."

    So where do we find the answer here?

    For Near Field Communications driven contactless payment and data exchange to reach a level where we are all happy with using these technologies we need, I would argue, roughly three things:

    • coordination and communication among key mobile commerce stakeholders
    • the development of mobile payment standards
    • the passage of time to allow consumers to get used to these new ideas

    "Material advances for mobile payments will only come about when banks, operators and retailers can converge on a business model, and with it true industry interoperability, leading to a widely embraced mobile payments system," added Sims.

    Whether it is now mobile operators, banks themselves or companies with facilitating technologies like Amazon, PayPal or Groupon who really kick start this market it is perhaps too early to say -- surely a combination of involvement from all will help us all maximise the potential here.

    Released: March 12, 2012, 4:37 am | Updated: March 22, 2014, 6:46 pm
    Keywords: Industry Trends News | Sybase 365


     

     

    TwitterLLinkedinLFacebook

    Copyright © 2014 ISUG-TECH. All Rights Reserved
    All material, files, logos and trademarks within this site are copyright their respective organizations

    Terms of Service - Privacy Policy - Contact the Help Desk