The Smartphone Payments Train’s Leaving the Station

The Smartphone Payments Train’s Leaving the Station - Bank Technology News
The earth is shifting under the mobile payments market, with new technologies and product rollouts coming fast, and firms that miss the shifts in the market will be at a decided disadvantage.

New research from Aite Group says the rapid consumer adoption of smartphones and m-commerce, carrier and handset manufacturer adoption of NFC chips, and the growth in mobile baking are expanding the domestic mobile payments market quickly.

Despite the coming spike, much of the financial services and payments industries still have a learning curve. Gwenn Bezard, research director at Aite Group, says “many organizations industry remain unaware that mobile payments are in a period of rapid transformation. And firms that have any desire to play a role in this market must wake up now.”