Google Wallet

Near Field Communication Payments

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English: An NFC (Near Field Communication) poi...
English: An NFC (Near Field Communication) point at a Peet’s Coffee for use with Google Wallet. (Photo credit: Wikipedia)

Near Field Communication is being favoured by major stakeholders such as Card Issuers to maintain the card standard and is a form of contactless payments. However this requires a major upgrade to Merchant terminals and with the power of the internet many developer’s globally are addressing the opportunity by offering alternatives. Less costly options that are more secure and feature packed are however likely to contribute significantly to educated participants. Mobile EWallets that do not require the storage of Card or Bank details in apps making them instantly attractive to the security conscious . Here is a recent article on techcrunch which raises valid questions around the adoption of Near Field Communication tap and pay or contactless card payments  . This is intended to be introduced in New Zealand in future but the terminal upgrades required will hinder this and especially where more “modern” technology is available with less disruption and significantly lower compliance costs and yet a higher more flexible level of technology. Google Wallet is yet another roll-out by Google but, do you really want ‘to put all your eggs in one basket’ so to speak? Google are rather obscurely obtaining cellphone numbers to reset lost Google account passwords. Crikey what are the ‘motives’ for these tycoons? Is good or is it bad in the form of some monopolistic control. PaybysmsGlobal, a not for profit concept, is set to provide high technology solutions or simpler alternatives that do not require the use of any card or even clearing houses or Banks.