Breakthroughs in the European Mobile Payment Market

Mobile payment has yet to fulfill its potential. The time is now right for the mobile phone to step up and become an everyday, convenient payment method. Technological advances, such as the new generation of mobile devices, the emergence of contactless payments, IP everywhere and 3G, coupled with the adoption of the new legal framework for payments and the creation of the Single Euro Payment Area (SEPA) means the future for mobile payment has never been more promising. The future of mobile payment will likely belong to contactless technology Still in its pilot stage in Europe, Near Field Communication (NFC) contactless payment is a huge opportunity for proximity payment, as it addresses both the cash and card payment markets.