Payment industry experts are beginning to back away from their initial conclusion that near field communications (NFC) would certainly be the dominant mobile payment technology. As consumers are introduced to a number of emerging mobile payment systems—including those based on NFC, QR codes, ultrasonic communication and more—the industry will have more information regarding what does and does not appeal to consumers, and which systems can best be used to exploit those advantages.
“Consumers know what they want, and we don’t know what it is,” [former Verizon executive Aditya]Khurjekar said. “We can’t wait for everything to be perfect before we begin exploring what consumers want. Let people start to experience NFC in big and small ways, and the market will tell us how to proceed.
Isis will soon begin testing their NFC solution in Austin, TX and Salt Lake City, UT, and both consumer and merchant response in these two locations will be revealing as to the long term potential of NFC-enabled payments.
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