BY 2021 THE ANNUAL WORLDWIDE SMARTPHONE BASED TRANSACTION VOLUME IS EXPECTED TO GROW TO USD 870 BILLION 690 MILLION PEOPLE CURRENTLY HAVE DIGITAL WALLETS INSTALLED ON THEIR SMARTPHONES THE ANNUAL GROWTH RATE IS 25 Source mobilepaymentsworld com In India WhatsApp has extended its smartphone app by a payment func tion The Facebook subsidiary not only selected India as a test market due to its more than 200 million WhatsApp users but also because 70 of the country s internet users do not use a PC but a mobile device to surf the worldwide web TEST MARKET INDIA payments by means of smartphones using NFC technology are expected to be possible at all cash register terminals in Europe equipped with EC and credit card readers Source Visa M asterC ard M aestro By 2020 CASH CARRY The British Co op chain has been testing a cashless payment method in a store in Manchester since March 2018 Customers use their smartphones to scan the products themselves while placing them into their shopping carts and when finished pay for their purchases by tapping the phone s display Mobile wallet Most of the so called mobile wallet apps use NFC Near Field Communication technology for smartphone based payments This wireless technology transmits only small data volumes over a range of a few centimeters That makes NFC perfectly suited for exchanging the payment data between a smartphone and a cash register terminal Purchases of up to 20 or 25 euros can be made this way without a confirmation prompt larger amounts require a code to be tapped in NO NEED F O R C A S H Coins bills and cards will soon be history Smartphones are the wallets of the future in m otio n 39

Vorschau Schaeffler tomorrow 01-2018 EN Seite 39
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