In another blow to adoption of near-field communications for mobile payments, Best Buy and 7-Eleven are shutting down NFC capabilities at their retail stores, according to a report by Mobile Commerce Daily.
A number of emerging technologies are vying to revolutionize the payments industry by providing a seamless mobile experience at the point of sale. Much has been made of the Bluetooth vs. near-field communications, or NFC, faceoff, but there appears to be another rising challenger: biometrics.
Founded in 2011 by Bill Seibel, Mobiquity focuses on helping firms make the most out of the mobile universe. Seibel recently shared his thoughts with FierceMobileIT about where the IT world has been and where it is going, with mobility generating the next wave of technological change.
Visa and MasterCard are backing host card emulation technology that will enable the credit card companies to offer cloud-based mobile payments, in effect bypassing hardware-based mobile payment initiative backed by mobile operators.
Apple last year launched iBeacon, an indoor position system that provides the location of iOS device users and enables push notifications to be sent to the device. iBeacon, which employs Bluetooth low energy wireless technology, could also enable mobile payments at the point of sale, making it a competitor to near field communications technology.
Quick takes on the latest mobile IT news for Monday, 1/27 including: Apple's possible adoption of mobile payments, a recent boost in Microsoft's Surface sales, CPG brands' use of mobile marketing to reach customers, semiconductor growth due to wearables and IoT devices and Sprint's new course of action in job cuts.
If it lives up to the hype, near-field communication could be a boon to the financial services industry, which could benefit immensely from mobile payments adoption. Richard Char, the global head of digital networks and merchant services at Citi, told attendees at a recent conference that a coming shift in card technology will pave the way for NFC adoption.
Near-field communication aims to revolutionize mobile commerce, but just how close the technology is to becoming a widely-adopted reality is unclear. A new paper confirms some of the fears that have many businesses shying away from the technology.
Quick takes on mobile IT news for Tuesday, 12/3 including: the desire of consumers for in-store mobile payment options, a restaurant chain's plans to invest in over 100 grand tablets for tables, drones that will deliver your packages, smart shipments high in Western Europe and the fate of the 2G and 3G spectrum.
Check out the hottest mobile IT news for Monday, 10/28.