May 01, 2013
Industry experts originally expected near field communication (NFC) technology, which enables consumers to simply wave or swipe their smartphones, tablets or other Web-connected devices over a special reader without needing to touch it, to take the mobile wallet market by storm. They pointed to the technology’s ease of use and its backing by major players including AT&T, Google, Nokia, Philips, T-Mobile and Verizon.
Yet that hasn’t proven to be the case for a number of reasons, including delays in developing the NFC technical standards, the reluctance of some equipment makers to embed pricey NFC chips in their new phone models, merchants’ concerns about...