When it comes to technology and 2012, smartphones and tablets dominated the mobility space. Gartner (News - Alert) predicts sales of 1.2 billion smartphones and tablets in 2013, a 50-percent increase over this year; smart devices, including smartphones and tablets, will account for 70 percent of the total number of devices sold by the end of 2012. It seems mobility has made and impact on almost every industry, and the financial sector is no exception. M-banking services, m-payments, m-remittances and other mobile commerce services have completely integrated the worlds of financial services and mobility.
In fact, Frost & Sullivan (News - Alert) predicts that four topics will dominate the financial services market in 2013: contactless payments, commercial mobile payment offerings, cloud-based solutions and data analytics.
According to Jean-Noel Georges, global program director for ICT in Financial Services, by 2018, 38 percent of mobile phones shipped in Europe will be Near Field Communication (NFC) enabled, increasing the use of NFC solutions. Using contactless payment will be simpler and effortless. Like the touchscreens on smartphones, contactless payment will follow natural customer behavior and will generate a new payment experience... Read More