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White paper discusses mobile payments

September 28, 2011

A recent white paper released by one industry group points to the growing market for mobile payments in the United States, with the market expected to be worth $214 billion by 2014.

A recent white paper released by one industry group points to the growing market for mobile payments in the United States, with the market expected to be worth $214 billion by 2014.

In a release, the Smart Card Alliance stated that its new report, The Mobile Payments and NFC Landscape: A U.S. Perspective. would give readers an increased level of understanding as to the growth potential of the sector. The white paper outlines a number of growing fields including cloud-based operations, bar codes, integrated NFC, non-integrated contactless solutions and text messages

The executive director of the Smart Card Alliance, Randy Vanderhoof, said that those in the merchant services industry would benefit from the release of the documents.

“The goal of this white paper is to help industry stakeholders understand the current mobile payments landscape, anticipate how mobile payments are likely to change, and appreciate the opportunities that mobile payments, and particularly NFC-enabled mobile contactless payments, present,” Vanderhoof said.

Some specifics mentioned in the white paper include the status of NFC mobile proximity payments infrastructure, different mobile devices that can be used by merchants and how to meet NFC mobile requirements. 

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