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Expert: Mobile payment trend slow to progress

December 30, 2011

Though many consumers adopted mobile payment methods during 2011, some experts say that the industry is progressing slower than they would like.

Though many consumers adopted mobile payment methods during 2011, some experts say that the industry is progressing slower than they would like.

In an interview with PCWorld, ABI Research director John Devlin said that despite some market infiltration, the total number of people using near field communication products is increasing slowly. With search engine giant Google introducing its Wallet and other companies launching products, there is reason to hope that the future will be brighter.

“There has been progress, but not as much as people had hoped for. We now also have a number of handsets with NFC, albeit a small number, and not as many as people were saying there would be at the start of the year,” Devlin told the source.

Some well-known brands have been finding success with the method. At the beginning of this year, Starbucks introduced a mobile app that would allow people to pay for coffee and food with an app. During its first three months 3 million merchant services transactions were performed, with 26 million by the end of the year.

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