Vodafone Signed to Visa for NFC Wallet
Vodafone has signed on the dotted line with Visa so that it can enable Visa payWave.
The mobile wallet initiative will be in use from Spring. Security conscious customers will be pleased to know that purchases over £15 will require a pin code.
Vittorio Calao, Vodafone Chief Executive said, NFC payments will be “the next stage of the smartphone revolution”.
Althuogh NFC is part of the hardware on many devices it is tipped that this will be the next big thing in mobile phone technology.
Visa has been active in promoting subsidising upgrading PoS equipment, according to Haslam, so there is some momentum. “However, in general, global terms,” she says, “because the benefit in speed is marginal and is not really recognised by consumers, the majority of retailers are slow adopters.”
If deployments are going to be worth it on a wide scale for retailers, Haslam says retailers will need to find service value beyond the convenience and speed that NFC provides. “This could either be for themselves in terms of greater loyalty and customer information, or for the consumer in better deals and service,” she suggests. “Increased security is one possible option but the one Visa and others are talking to retailers about is combining the payment and loyalty card functions to offer more targeted special offers to specific customers, to further increase loyalty and the value of each visit to a store.”
Barlcays recent service Pingit offers a similar function to the new wallet service.