Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Report looks at future of payments

Thursday, June 12, 2008

Market research group Business Insights has made available a new report examining the future of the payment industry as it moves toward the long-awaited “cashless” society. The report considers the current global market for payments technologies and provides an analysis of how the sector could evolve.

Among the areas examined are the security issues surrounding contactless payments, and what makes this type of transaction appealing to both merchants and consumers, with a focus on the benefits of contactless payments’ speed. The report also outlines what Business Insights’ analysts believe is needed to further the success of contactless payments.

For more information go here[end] 

Auriemma Consulting Group is set to launch a comprehensive consumer study on the future of the mobile wallet.

The study comprises an overview of the current state of the UK mobile wallet space and attempts to answer “What comes next?” after launch. To determine the next stage of the mobile wallet, the study examines the features and benefits consumers expect on mobile wallets, and potential ways to expand the mobile wallets’ capabilities.

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Albron, an independent caterer in the Netherlands, will offer biometric- and contactless-based payments in its restaurants thanks to a newly signed agreement with pan-European payment processor Equens.

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In ABI Research’s newest market study analysis, NXP Semiconductors has reportedly claimed the top spot in the contactless ticketing market with 74% of the market share.

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Research firm NPD In-Stat has released a new report predicting that total mobile payment transactions – mobile payments made via NFC or bar code – will reach 9.9 billion globally in 2016, up from 1.1 billion in 2012.

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Samsung and Visa are providing their sponsored athletes and trialists at the London 2012 Olympic Games with special edition Samsung Galaxy S III handsets equipped with Visa’s payWave NFC payments application.

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MarketsandMarkets has released a new report predicting that the NFC applications market will surpass $10 billion by 2016 at a compound annual growth rate of 38% from 2011 to 2016.

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