PayPal president David Marcus is forecasting a year of disruption in the shopping and payment space in 2013, but insists that NFC technology will not play a part in the upheavals.
I can't help thinking that this is all smoke and hope on the part of PayPal.
With you on this one David.... The NFC hype has now moved onto mobile wallet hype... Mobile wallets work well closed loop... Most of the EU's internet gambling companies have them tied to web accounts or stand alone... The mobile wallet is just another
solution looking for a problem... wonder what Juniper research will say about an explosion in mobile wallets now?
With both of you on this. NFC, mobile, it's mostly all hype.
Not sure to what extent I can agree with you gentlemen.
While I surely agree that NFC and mobile wallets are around the apex of the hype curve, there certainly is a user experience problem when making an electronic payment.
In my view the question should be "are NFC and mobile wallets the solution to this problem?" - so far, in my real world user experience, I did not find any real improvement against the good old EMV card. The time spent on the POS terminal (even if this is
my smartphone) to clear the transaction is still very long.
So the answer is "not yet". There still is a groundbreaking element missing, one that will make a customer willing to switch to the new payment method.
Competitive PackageLondon, UK
© Finextra Research 2015