Defining business models for near-field communication payments

Abstract

This paper highlights what needs to happen to make near-field communication (NFC) contactless mobile payments at the point of sale a mass-market reality. The paper demonstrates how, as NFC technology continues to gain momentum, stakeholders can assess different implementation options, define the business case and roles that will meet their requirements, and establish a clear go to market strategy with essential partnerships. The ultimate aim of analysing the different implementation models available is to speed up the development and use of NFC technology for payments. The work that Mobey Forum has done within this area evaluates the current ecosystem and showcases different types of technology and deployment strategies, explaining how these can be assessed to identify the implementation model that best aligns with a stakeholder’s commercial needs. Finally, the paper demonstrates how, if the industry fails to come together in a collaborative and interoperable manner, NFC contactless mobile payments may never achieve mass-market deployment.