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Table of Contents

Lead Story

Accelerating cash advance

News

Industry Update

On track with a new SAQ

Turbulent negotiations for Hypercom, Ingenico

RevolutionCard, Fifth Third stir the processing pot

State bill clarifies breach obligations

Mobile moves up payments line

Jazz up your game at SEAA

Features

NCR debuts SelfServ ATMs

Tracy Kitten
ATMmarketplace.com

Beacon shining on MLSs

The fight for security - Adapting to new threats

Chris Yaldezian et al
Sterling Commerce

Industry Leader

Marla Knutson –
A glowing payments gem

Views

Cool not enough to propel contactless

Patti Murphy
The Takoma Group

Education

Street SmartsSM:
Back to basics

Dee Karawadra
Impact PaySystem

Merchant tutoring time

Theodore Svoronos
Group ISO

Recruiting is an art form

Nancy Drexler
SignaPay Ltd.

Portfolio sale pitfalls

Adam Atlas
Attorney at Law

ISO compliance challenge

David Mertz
Compliance Security Partners LLC

Company Profile

myARCworld Inc.

New Products

Online survival in the PCI wilderness

PCI Toolkit
CSRSI: The Payment Advisors

Inspiration

The art of charm

Miscellaneous

POScript

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

February 25, 2008  •  Issue 08:02:02

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Mobile moves up payments line

Plastic cards are starting to lose their grip on the payments world. According to Juniper Research LLC, mobile phone users will reach over 612 million and generate more than $587 billion financial transactions in 2011, with mobile payments generating $22 billion of that amount.

The report, released in January 2008, found that mobile phones have extreme potential as financial services tools. "A combination of increased user demand and a desire from all sections of the ... ecosystem to deliver intelligent applications and services has created an atmosphere that is both creative and pragmatic," said Alan Good, the report's author.

An ABI Research study found that more than 419 million near field communication (NFC) chipsets will be shipped by 2012. It also stated that NFC mobile transactions are becoming more attractive to the public transportation arena.

In addition, according to a recent Aite Group LLC report, 2.5% of merchant locations in the United States will be contactless-enabled by 2014, steadily climbing from 0.5% in 2008.

However, Aite predicts cash will remain the dominant form of payment in the United States for at least the next six years. "This is attributable largely to merchant trepidation of interchange costs on low-value transactions," the report stated.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems