News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

2013: The Year of NFC’s Demise? – Dec. 20, 2012

2013: The Year of NFC’s Demise? 

Dec. 20, 2012

Despite its position as the presumptive technology for mobile payments at the POS, PayPal President David Marcus predicts NFC will fail to gain traction and that 2013 is the year “the NFC payments debate will slowly die.” Marcus’ thoughts on NFC topped his list of four predictions for 2013 posted this week on PayPal’s corporate blog.

“Is tapping a phone on a terminal any easier than swiping a credit card?” Marcus asked. “I don’t think so – it’s not solving a real consumer problem and it’s not providing additional value to encourage me (or anyone else for that matter) to change my behavior.”

Additionally, Marcus said 2013 will see three other trends continue: the convergence of payments, loyalty and coupons; cash registers going mobile; and new experiences growing out of location-based services.

“The power to be fed just what you want, when you want it, was still a science fiction fantasy in 2011,” Marcus said. “I think that location-aware, and context-relevant shopping and payments experiences will be one of those technologies that changes much, much more for the consumer than even the hard working technologists in Silicon Valley can imagine today.”

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Daniel Leibovitch