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Mobile credit card processing still years away

September 15, 2011

According to David Messenger, American Express's head of online and mobile, near-field communication for mobile credit card processing is around three years away from becoming mainstream, All Things D reports.

According to David Messenger, American Express’ head of online and mobile, near field communication for mobile credit card processing is around three years away from becoming mainstream, All Things D reports.

A major “pain point,” Messenger said, is provoking adoption from teenagers in North America. He believes that because of the complications teens face when using cash or credit cards for payment – such as splitting the check at a restaurant or divvying up rent among multiple roommates – they stand to benefit most from NFC technology.

“The key thing that we’ve found resonates is the social aspects,” Messenger said, as quoted by the news source. “This is about new growth opportunities and people who use cash and checks. It’s the social experiences that don’t have great solutions.”

However, before teens warm to the service, the digital money experts who promote NFC must learn to reap the benefits. The website notes in a separate article that author Tricia Duryee asked representatives from mobile payment companies at the Mobilebeat 2011 conference what they had in their wallets.

Two panelists reported still carrying checks, while another had nearly six credit cards. Only one person had switched to a digital wallet.  

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