In present technical world, the latest technology introduced in making credit card payments is the usage of mobile wallets. The Near Field communication(NFC) is the the current emerging technology that aids the users to pay bills and make transaction through their mobiles.
Juniper research shows that by the end of 2013, the sales of mobile equipped NFC technology will reach $ 75 billion and 1 out of every 5 mobile devices will have this NFC technology embedded. It is predicted that by the year 2015, the entire transactions amount made through mobiles will reach $ 670 billion.
The latest technological advancements in the Near Field Communication (NFC) will make the mobile payments more convenient and define certain new behavioral patterns in making transaction over mobile devices.
Some popular contenders in the present technical market that supports NFC technology are Google Wallet, ISIS, Visa Wallet and Serve ( a product of American Express).