News & Views - Savantor

NFC may not always be the next great thing

Wednesday, 31 July 2013

Rumours abound that the next iteration of the iPhone will contain support for NFC.  If true it could be a major step forward for mobile payment technology.  NFC supporters have claimed for years that an Apple entry into the market would herald the era of NFC.  The belief was that Apple was the only phone vendor with enough market share and influence on retailers to actually make NFC happen.  With 435 million iTunes accounts worldwide, each with a funding mechanism of some sort, there was some truth in this.

An industry survey conducted by Copperberg on the status of NFC technology, focused on mass adoption and the key reasons why the technology has not really taken off yet.  Respondents, from Mobile Network Operators, Banks and Retailers to Trusted Service Managers, Handset and RFID Manufacturers took part.  The survey found that 65% of the respondents agreed, that in order to get true mass adoption, NFC should focus on educating the masses about non-payment opportunities, and that once this is accomplished, payment will follow.

When asked what they feel is preventing mass adoption of NFC, respondents answered with a "complicated business model" – a large ecosystem with so many players involved hinders the development and implementation of the technology. Also, "a lack of support from Apple," referring to the fact that a large portion of smart phone market share is not currently NFC-enabled.  Additional findings from the survey revealed that NFC as a technology is most interesting for Transport & Ticketing (39.8%), followed by Retail (25%), Payments & Wallets (19.3%), and then Access Control & Authentication (15.9%).

With over 500 million NFC devices expected by next year (according to ABI), and NFC now included in the most popular smartphones outside of IOS devices, non-payment NFC use already include authentication, ticketing, media downloads, file/data transfer, social gaming, vending, health ID cards, and many others. So although there are a number of NFC-based payment solutions on the market nothing significant has really happened but if the rumours become reality then after years of being the next great thing it might finally happen.

 

 

   
Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Issuer and Acquirer Transformation - Assessment and Mobilisation

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with a diverse team from across the bank and actively contribute. I am pleased to say that Savantor was able to deliver on our needs as well as being good people to do business with."

Lars Bostrom, Head of Cards - Nordea - Scandinavia

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Complex Multi-Country Migration

"This complex migration, undertaken simultaneously in Spain and Portugal, has been a complete success. Savantor has provided us with excellent support for over 3 years, both in the original business transformation programme and now this double migration. We value their open and honest approach to business, and of course the expertise that they bring."

Ricardo Gomez, Director, Operations & Technology - WiZink Bank – Spain & Portugal

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Card Processing Migration

"Disciplined methodology and effective teamwork, guided by Savantor's migration expertise and operational knowledge, were the hallmarks that led to the resounding success of this project, enabling us to maintain and develop our business capability."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.