Wednesday, February 23, 2011

Mobile Payment Is Coming In A Big Way

The mainstream media has not caught on to it yet and I've talked about it here from time to time. But be prepared to be bombarded with tons of media reports, blogs, tweets, and e-mails about it in the coming weeks or months.

At week at the Mobile World Congress, near field communication, NFC, was being talked about as if it is the next holy grail of mobile. And to a follower of mobile happenings like myself, this is a big thing. In as few words as possible, NFC allows payments be made through mobile devices.

Think of this as what you can already do at Starbucks. You can order and pay through the app. Well, this will happen in a much much better way. There are a couple of devices on the market with NFC capability, specifically, Google's Nexus S. But as with some technology, being first doesn't mean much.

However, it is largely expected that Apple's next iOS hardware updates, including the next iPhone, will support mobile payment. And I expect an explosion of next generation Android devices to support this as well.

I really recommend reading up on it because just about everyone from your bank, credit card, wireless providers, and hardware companies will be getting in on this lucrative new business. Oh, and retailers would love this as well.

Also, there are also security concerns you'll need to be aware of.

So get ready media and ad blitz coming our way. I'll be devoting much much more attention than I have in the past. I started talking about almost two years ago, pointing the ease that the Japanese users have been able to enjoy with paying through their cell phones for years.

It'll be our turn soon.

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