Many stand to profit from mobile credit card payments
Many experts seem fairly certain that widespread adoption of using smartphones with near-field communication technology to make credit card purchases is inevitable, and companies across a number of industries stand to profit as a result, according to a report from the tech news site CNET. Apart from those companies that issue credit cards and cellular phone service providers, those in a number of other industries will also benefit.
For example, the companies that make NFC-capable smartphones, as well as those that make the payment terminals, will likely see huge increases in sales, the report said. In addition, retailers who install the new technology and companies that offer coupons and other types of deals will likely see more widespread sales.
Experts have predicted that the mobile phone payment industry will be worth at least $44 billion by the end of 2015.