Revolutionising mobile payments

Abstract

The concept of using a mobile phone or device to purchase goods and services has always been one of the key ambitions for technology players within the telecom industry. Mobile proximity technology, or contactless technology as it is often referred to, is one such technology that is seen as a means to enable mobile transactions and open up ways for operators to reach consumers and generate new revenue streams. However, mobile proximity solutions remain a relatively new concept within the telecom industry itself and we are only now starting to see trials and deployments of this technology. So what is mobile proximity technology and will it be the promised nirvana it is perceived to be for operators?