By Raphael Michilis
The volume of Barclaycard NFC sticker cards PayTag issued is increasing and the company is optimistic about the customer’s adoption of the technology.
“The take up of the PayTag has been phenomenally successful. I can’t tell the exact number yet, but we are pretty please with the results,” said Tom Gregory, Head of Digital payments at Barclaycard during a webinar on 31 May.
Tom Gregory said yet that the volume of point of sales (POS) compatible with NFC technology in the United Kingdom will soar 50% in 2012, predicts Barclaycard.
“There are 100,000 [NFC enabled] payment terminals in the UK today. And this number will reach 150,000 till the end of the year,” said the Barclaycard executive.
On the other had, a research by technology advisory company Gartner foresees that while global mobile payment in general should soar by 62% in 2012, the volume of NFC transactions will remain rather low until 2015, with substantial growth beginning only in 2016.
“There are so many predictions, some pretty different,” but for now NFC “level is beginning to rise and we are pretty happy”, said Gregory about Gartner findings.
He believes the spread of the NFC technology in the UK will be boosted by adoption of major players like Transport for London (TfL). He expects the public transport and other large initiatives will encourage usage, and improve awareness of the technology.
“We are getting balance of adoption and awareness. This is moving in the right direction. NFC is the future. We are investing in it because we believe, we have confidence in the technology,” said the Barclaycard executive.
Asked if Barclaycard plans to invest in mobile payment alternatives to NFC, he said the company “will continue monitoring” other technologies and change strategy if necessary.
The finance and technology industries’ confidence in the Near Field Communication payments was corroborated earlier this week, when executives from MasterCard, Sony, Intel among others stood up for the technology during the Smart Card Alliance’s NFC Solutions Summit 2012.
The group said NFC will improve the shopper experience at the POS and in on a daily basis interactions.
NFC is “getting well along the way to mass market adoption,” said James Anderson, MasterCard’s senior vice president of Mobile and Emerging Payments.
Security
Tom Gregory also contradicted concerns about security and said the technology is safe.
He didn’t reveal the number of fraudsters attacks to Barclaycard NFC products, but said the card registered a “very small volume of fraud transactions related to the PayTag.”
Frauds generally occur in small transactions and are linked to merchants’ inappropriate identification of the purchaser.
The Barclaycard executive reassured that the customers will be reimbursed of any undue purchase, and those merchants who decide not to do full verification of customer data might be held liable.
Availability
Despite the incipient release NFC fitted mobile devices, Barclaycard is still optimistic about the Near Field Communication payments.
According to Tom Gregory, the contactless sticker card, PayTag is a bridge to the technology till when NFC fitted devices are more commonly available.
“We don’t know when every android mobile or iPhone will have NFC. until that happens we’ll use the tags.”
The volume of Barclaycard NFC sticker cards PayTag issued is increasing and the company is optimistic about the customer’s adoption of the technology.
“The take up of the PayTag has been phenomenally successful. I can’t tell the exact number yet, but we are pretty please with the results,” said Tom Gregory, Head of Digital payments at Barclaycard during a webinar on 31 May.
Tom Gregory said yet that the volume of point of sales (POS) compatible with NFC technology in the United Kingdom will soar 50% in 2012, predicts Barclaycard.
“There are 100,000 [NFC enabled] payment terminals in the UK today. And this number will reach 150,000 till the end of the year,” said the Barclaycard executive.
On the other had, a research by technology advisory company Gartner foresees that while global mobile payment in general should soar by 62% in 2012, the volume of NFC transactions will remain rather low until 2015, with substantial growth beginning only in 2016.
“There are so many predictions, some pretty different,” but for now NFC “level is beginning to rise and we are pretty happy”, said Gregory about Gartner findings.
He believes the spread of the NFC technology in the UK will be boosted by adoption of major players like Transport for London (TfL). He expects the public transport and other large initiatives will encourage usage, and improve awareness of the technology.
“We are getting balance of adoption and awareness. This is moving in the right direction. NFC is the future. We are investing in it because we believe, we have confidence in the technology,” said the Barclaycard executive.
Asked if Barclaycard plans to invest in mobile payment alternatives to NFC, he said the company “will continue monitoring” other technologies and change strategy if necessary.
The finance and technology industries’ confidence in the Near Field Communication payments was corroborated earlier this week, when executives from MasterCard, Sony, Intel among others stood up for the technology during the Smart Card Alliance’s NFC Solutions Summit 2012.
The group said NFC will improve the shopper experience at the POS and in on a daily basis interactions.
NFC is “getting well along the way to mass market adoption,” said James Anderson, MasterCard’s senior vice president of Mobile and Emerging Payments.
Security
Tom Gregory also contradicted concerns about security and said the technology is safe.
He didn’t reveal the number of fraudsters attacks to Barclaycard NFC products, but said the card registered a “very small volume of fraud transactions related to the PayTag.”
Frauds generally occur in small transactions and are linked to merchants’ inappropriate identification of the purchaser.
The Barclaycard executive reassured that the customers will be reimbursed of any undue purchase, and those merchants who decide not to do full verification of customer data might be held liable.
Availability
Despite the incipient release NFC fitted mobile devices, Barclaycard is still optimistic about the Near Field Communication payments.
According to Tom Gregory, the contactless sticker card, PayTag is a bridge to the technology till when NFC fitted devices are more commonly available.
“We don’t know when every android mobile or iPhone will have NFC. until that happens we’ll use the tags.”
No comments:
Post a Comment