Collaboration Model Seen Key to NFC Payments Success
Most payments and mobile communications industry stakeholders interviewed by the Smart Card Alliance believe Near Field Communications (NFC) cellphone payments will be adopted by consumers and merchants. The most likely scenario to make that happen, according to 86 percent of those surveyed, is a collaboration business model that brings together banks, mobile operators, merchants, handset manufacturers and other service providers.
With so many players involved in the NFC payments ecosystem, the simple fact that no-one is making the first move to mass deployment presents a large barrier for adoption, according to the Smart Card Alliance.“Respondents believe that a third party acting as trusted service manager needs to make a bold move to orchestrate the activities of all the key players in NFC,” the Smart Card Alliance says.
The third party’s role would be to co-ordinate activities such as final selection of handset and chip standards; merchant enablement; standards for certifying and deploying secure payment applications; and development of a model for revenue-sharing.
The survey was conducted by the Smart Card Alliance Contactless Payments Council Mobile Payments Work Group in North America in December 2007 and January 2008.
Smart Card Alliance members involved in the survey include Bank of America; Discover Financial Services; Gemalto; Giesecke & Devrient; IBM; Infineon Technologies; INSIDE Contactless; JCB; VeriFone; and ViVOtech.
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