Will Near Field Communication (NFC) change the way we pay?

The leaders in mobile gathered this week at the Mobile World Congress (MWC) in Barcelona, Spain. The technology available on mobile phones has rapidly evolved over the past years and many fascinating new devices, services and software has been shown at the international congress.

Looking on Trends and Innovations on the long-term, Near Field Communication (NFC) is one of the major driver for the next years and is a main topic of MOCOM 2020. The Technology is already available in the market. While NOKIA has launched its first NFC enabled phone, the NOKIA 6212, NTT Docomo has already over 50 million mobile phones in the japanese market.

Mobile phones with a NFC chip technology can be seen as a mobile payment device. But the 3G handsets are enabling users to wirelessly exchange all kind of information. The options to purchase goods and services, which previously were available on the internet, are now being made accessible on mobile phones. This has opened a window of opportunities for both businesses and consumers.

Mobile banking, mobile money transfer, mobile trading, mobile commerce, advertising and marketing, location based advertising and mapping services, and information and local news services are some of the areas to lead significant growth in the mobile payments market.

The following Video Interview is filmed at the NTT Docomo booth at the Mobile World Congress (MWC) 2009 in Barcelona. We had the chance to talk with an NFC Expert from Japan about the 5o+ million mobile phones with NFC functionality in the market.

Near Field Communication or NFC, is a short-range high frequency wireless communication technology which enables the exchange of data between devices over about a 10 centimetre distance. The technology is a simple extension of the ISO 14443 proximity-card standard (contactless card, RFID) that combines the interface of a smartcard and a reader into a single device. An NFC device can communicate with both existing ISO 14443 smartcards and readers, as well as with other NFC devices, and is thereby compatible with existing contactless infrastructure already in use for public transportation and payment. NFC is primarily aimed at usage in mobile phones. (Via Wikipedia)

About Monty Metzger

Monty Metzger is an Entrepreneur, Blogger and Trend-Scout. He is initiator and head of the MOCOM2020 project. He studied Business Administration in Germany and Switzerland and specialiced early on electronic Marketing. Since Monty founded his first company in 1998 he realised inspiring projects like BMW’s Web TV in 2001 or BMW’s first Mobile Marketing activities in 2002. He attended the “Innovation Academy” at the Harvard Business School and is blogging at monty.de He found the german office of the global Trend Research and Trend Consultancy “CScout” and expanded the company in China. Since 2008 he is focusing on the growth of “Ahead of Time“, an innovation agency focusing on Emerging Media, such as Social Media and Mobile Media.

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