Italian bank UniCredit has teamed up with First Data to test a QR code-based mobile payments service.
Interesting to see that QR code based interface options that started in the US as a way to avoid NFC are now gaining traction in Europe. Mobile payments are used mainly for everyday small purchases, so the next element to tackle on the way to success is
the transaction processing cost. With new regulation on interchange the Italian banks will loose significant portion of revenues, so new processing model is required to make the mobile payments economically viable.
to 75k ($120k) base + 35% bonusLondon, UK or Boston (MA), USA
© Finextra Research 2013