Today's mobile phone offerings have moved beyond voice to include text messaging and banking, the next logical step is to facilitate payments. NXP's vision is to change the way payments are made in both the virtual and physical worlds by providing a simpler and more secure way to move money.
Choice, freedom, ease of use and convenience are the driving forces behind the development of NFC based mobile payment schemes. NFC enables people to pay for parking, make a purchase from a vending machine or buy tickets for a concert using a mobile phone.
Mobile payment also offers a great opportunity for more efficient service personalization and customer loyalty management - the mobile phone will be like a wallet full of different cards. The fact that the mobile phone can deliver services at all times gives NFC enabled mobile local payment a distinct advantage as a commercial platform. The network operator makes money per transaction from increased GPRS and SMS traffic and can charge retailers for billing services. And retailers also benefit, from an increased ability to serve customers rapidly and in a more automated way.
Example: concert tickets
An e-ticket is an electronically stored access right that is purchased by the consumer to gain admission to an entertainment venue. The entire e-ticket purchasing process takes just a matter of seconds and is extremely simple and convenient for consumers. Once the consumer's payment information is collected and approved, the e-ticket is automatically transferred to the consumer's mobile phone or smart card.