Trade in mobiles to join contactless payment revolution
People who trade in their mobile phones will find they have a good chance of joining the contactless payments revolution if they choose a suitable replacement.
Howard Wilcox, senior analyst at Juniper Research, said the rise of near field communications (NFC) technology will "open up" the possibility of widespread payments by mobile.
He added a number of organisations, including McDonalds, have now declared an interest in adapting their payment methods to be compatible with the phone-based system.
Indeed, the fast food retailer has even confirmed it will enable its point of sale readers for the technology immediately.
"Juniper see ease of use and convenience as key user advantages – but also ticketing which would mean incorporating smart card functionality into mobile phones," explained Mr Wilcox.
Earlier this month, the research organisation concluded that NFC would be present in 20 per cent of mobile phones by 2014.
Posted by Samantha Green