Mobile payment systems so many NFC ecosystems may be fragmented in the future

We live in a great era: when we leave home in the morning, we accidentally leave our wallet at home, but you don't have to worry about it, because you can spend a whole day smoothly by using your mobile phone. We can use mobile phones to buy food, take public transportation (or private transportation), buy goods, etc., and do not need to touch banknotes and credit cards at all. However, just as every coin has both sides, everything has its advantages and disadvantages. Although mobile payments are very cool, we also have to pay some price.

App, App, App everywhere

The cost of living for cashless payments is that we need to handle a large number of app applications. Wal-Mart, Dunn Dole, Steak N 'Shake, Subway - Every retail catering company seems to have its own app and payment system, you need to learn how to use each app step by step, or Frequently maintaining the user settings within these applications, these cumbersome steps are really irritating and affect the user experience.

Therefore, consumers seem to need a more versatile payment solution, one of which is also very competitive, that is NFC payment. This payment method and independent payment platform can support Android Pay and Apple Pay, so it can be applied to most users. For consumers, the only difference between NFC payments is the operating system, but the application of this technology is actually very broad.

(Note: NFC payment refers to the fact that consumers use Near Field Communication to complete payment through handheld devices such as mobile phones when purchasing goods or services. It is an emerging mobile payment method. The payment processing is on the spot. Go online and offline, instead of using a mobile network, use the NFC RF channel for local communication with devices such as POS cash registers or vending machines.)

The NFC payment system ecosystem may be fragmented in the future

The 2017 International Consumer Electronics Show (CES) is coming soon. I believe many payment system providers will launch contactless payment systems, but the only problem is that these companies are likely to launch their own NFC payment system. It will not be bundled or integrated with Android Pay or Apple Pay. In other words, the current NFC payment industry is becoming fragmented, which is not necessarily a bad thing, but for now, it seems to be more harmful to consumers.

Therefore, the future is likely to leave us a messy payment system. In fact, similar situations have appeared in the credit card market. I believe that we now have several credit cards in each hand and they are often used. Zhang credit card payment troubles. So, nothing is better than putting all the support systems (even the existing NFC payment systems) on the same platform, but to be honest, this may be just a daydream, because today’s situation, The entire payment industry is on the verge of losing control.

however……

Is the current strange phenomenon in the payment system industry not caused by technology? As a less appropriate example, as an ordinary user or as a consumer, what we like most is to throw things at the wall as much as possible. Finally, let's see what will stick to the wall. In other words, if we don't try as much as possible, we may not be able to develop the best technology. However, once the technicians do this, it will bring a lot of inconvenience to ordinary users like you and me. Of course, using mobile phones to make payments, so that our mobile lifestyle has expanded, you can also appreciate this complex situation.

If such an application and service "maze" makes people adapt to the concept of mobile payment, then it is not a good thing. As a concept, mobile payments should indeed be encouraged and worthy of promotion. App, e-cash, and QR code payments are all different mobile payment concepts.

If we are to introduce consumers into the world of mobile payments, then we need to meet two conditions, one is continuity and the other is universal. In fact, we need to dig into the daily lives of ordinary people and then incorporate mobile payments. Only then will we see that mobile payments are widely used, perhaps App, maybe QR code, maybe NFC or other technologies, but as a technology industry practitioner, we have a responsibility to find the answer.