Mobile payment to take off in 2013
Technologies such as Near field communication (NFC) and mobile applications are changing the way consumers pay for goods. Google Wallet, Apple’s Passbook, Isis Mobile Wallet and Visa payWave are part of a market which showed, during the Mobile World Congress (MWC) in Barcelona, new mobile payment services from around the world.
The South Korean MoCa Pay describes itself as “the most convenient and intelligent payment service” and according to Jai Jang, Vice President of Service Division, this application “is better than Google Wallet.”
Jai Jang told New Europe that MoCa Pay can be used online and offline, and the payment can be processed via barcode, QR code, NFC or Push Notifications. Besides, MoCa saves 90% of the time it takes to process payments, both online and offline.
While Google Wallet is only available for Samsung, LG and HTC and only accepts a few number of credit cards, the South Korean company offers a service compatible with all products and credit cards.
MoCa is a free mobile application and can be downloaded at the Apple App Store and Google Play. Once users have the app installed they just have to select the payment method, select a card, enter their PIN, select the best option the app offers (coupons, discounts,...) and pay. In addition, they have the option of make a donation to UNICEF.
The payment system is already available in South Korea and its European expansion is expected to take place during this year, Jang told New Europe. Moreover, MoCa Pay has been selected as a finalist for the 2013 Innovator Award at Harvard University in the Best Technology Category.
Also at the MWC, ams AG and Mobeam announced they have signed a partnership in an attempt to accelerate the ability of smartphones to transmit barcoded content that can be read by all point-of-sale (POS) laser scanners.
With this partnership, handset makers will be able to fully support mobile commerce applications that use barcodes, such as coupons, loyalty cards, gift cards and tickets. Furthermore, this will mean the end of printed coupons, which consume 13 million trees every year.
Besides, Swedish tech company Mobill launched at the MWC a new version of M-Ticket, which is Sweden’s most popular mobile payment service and announced plans for an international expansion.
With M-Ticket 2.0, users can buy tickets using their mobile devices with payment via a mobile wallet, bank/credit card or mobile phone account. Likewise, it can be adapted to a variety of payment options, languages, mobile operators and network technologies.
MWC has offered just an introduction of what users will see during 2013, which will probably be the year of mobile payment.