12 July 2012
Muscat: Making payments with a Near Field Communications (NFC) enabled mobile phone is expected to grow significantly as mobile technologies become more advanced and the infrastructure to support NFC payments falls into place.
NFC technology is increasingly being adopted by payment networks, banks, merchants, mobile device manufacturers and mobile network operators as the global standard for mobile payments. This year, analysts anticipate that smartphone shipments will grow by over 38.6 per cent year-on-year, reflecting the increasingly interactive relationship consumers have with their phones.
"NFC technology is transforming mobile phones into payment devices that will change the way people live, work and play,- said Niki Manby, head of emerging products for Visa Asia Pacific, Central Europe, Middle East and Africa (APCEMEA).
"NFC payments have enormous potential and we are committed to providing the convenience of this technology in a secure manner to our customers,- Niki added. There is an undeniable demand for contactless transactions using the mobile phone. Juniper Research predicts that NFC mobile payments are set to exceed $180 billion worldwide in 2017.
In Kuwait, for example, Visa, a global payments technology giant, partnered with National Bank of Kuwait (NBK) and Zain to deliver the region's first NFC mobile payment trial, in a move that gave up to 350 NBK Visa cardholders the convenience and security of paying for their purchases using Visa PayWave on their Nokia 6212 phones at over 70 merchant partner outlets in The Avenues, Kuwait's largest mall.
Mobile operators
In the UAE, Visa is working with industry players Etisalat and Emirates NBD on a mobile contactless technology trial, enabling Emirates NBD Visa cardholders to purchase goods and services with their NFC-enabled mobile phones, with purchases charged directly to the customer's Emirates NBD Visa credit card account.
Visa's commitment to driving NFC acceptance across the region is paving the way for mobile device manufacturers, mobile operators and retailers to partner with financial institutions to offer Visa mobile payment functionality to consumers globally.
In the Middle East, Visa has worked closely with mobile network operators, handset manufacturers and financial institutions, merchants and technology providers to develop and commercialise mobile payments and related services.
Visa has been a global leader in advancing NFC and has taken a leadership role in the industry bodies that have helped to standardise the technology in creating global acceptance and interoperability.
Visa is committed to enabling more consumers to make payments from their phones to a contactless terminal securely and efficiently. Visa has played a leadership role in establishing global standards for mobile payments.
Muscat: Making payments with a Near Field Communications (NFC) enabled mobile phone is expected to grow significantly as mobile technologies become more advanced and the infrastructure to support NFC payments falls into place.
NFC technology is increasingly being adopted by payment networks, banks, merchants, mobile device manufacturers and mobile network operators as the global standard for mobile payments. This year, analysts anticipate that smartphone shipments will grow by over 38.6 per cent year-on-year, reflecting the increasingly interactive relationship consumers have with their phones.
"NFC technology is transforming mobile phones into payment devices that will change the way people live, work and play,- said Niki Manby, head of emerging products for Visa Asia Pacific, Central Europe, Middle East and Africa (APCEMEA).
"NFC payments have enormous potential and we are committed to providing the convenience of this technology in a secure manner to our customers,- Niki added. There is an undeniable demand for contactless transactions using the mobile phone. Juniper Research predicts that NFC mobile payments are set to exceed $180 billion worldwide in 2017.
In Kuwait, for example, Visa, a global payments technology giant, partnered with National Bank of Kuwait (NBK) and Zain to deliver the region's first NFC mobile payment trial, in a move that gave up to 350 NBK Visa cardholders the convenience and security of paying for their purchases using Visa PayWave on their Nokia 6212 phones at over 70 merchant partner outlets in The Avenues, Kuwait's largest mall.
Mobile operators
In the UAE, Visa is working with industry players Etisalat and Emirates NBD on a mobile contactless technology trial, enabling Emirates NBD Visa cardholders to purchase goods and services with their NFC-enabled mobile phones, with purchases charged directly to the customer's Emirates NBD Visa credit card account.
Visa's commitment to driving NFC acceptance across the region is paving the way for mobile device manufacturers, mobile operators and retailers to partner with financial institutions to offer Visa mobile payment functionality to consumers globally.
In the Middle East, Visa has worked closely with mobile network operators, handset manufacturers and financial institutions, merchants and technology providers to develop and commercialise mobile payments and related services.
Visa has been a global leader in advancing NFC and has taken a leadership role in the industry bodies that have helped to standardise the technology in creating global acceptance and interoperability.
Visa is committed to enabling more consumers to make payments from their phones to a contactless terminal securely and efficiently. Visa has played a leadership role in establishing global standards for mobile payments.
© Times of Oman 2012
