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Already popular in Korea and Japan, mobile payments are on the road to adoption in Europe. At the Mobile World Congress last week in Barcelona, the technology – which essentially allows payments to be made using only a smartphone – was put on display.
Louise Farrant, Mobile Director of Mobile NFC Services, says that it’s not just making payments that NFC is great at:
“It’s like having your wallet in your phone. You’ve got your car keys, your house keys, your credit cards, your bank information. It’s all there to hand.”
Consumers, however, have expressed security concerns over their data. But Farrant stresses that:
“The technology has the same standard you get on your credit card, so if your credit card is safe then the application on your SIM is safe because it’s the same standards that apply to both.”
See Wall Street Daily’s Justin Fritz for more on the NFC market.