The value proposition for using mobile payments must be clearly stated to customers in order to change their behaviour from using plastic cards to mobile phones, says the Federal Reserve Bank of Boston following the completion of a research project that tested four mobile wallet models including NFC and QR codes. “While security issues remain a major barrier to mass mobile payment adoption and are being addressed by the industry, general consumer adoption is the real hurdle,” the bank says.
- Chevrolet and Shell let drivers pay for fuel and access offers from their vehicles
- US supermarket chain Meijer to launch mobile self-checkout service
- Charity to roll out contactless donation screens following successful three week pilot
- Google’s mobile payments app has now been installed 100m times
- JCB to pilot biometric payment cards in Japan