Mobile payments just haven’t caught on yet in the U.S., despite success in places like Japan. Sheer complexity is to blame.
In Japan, consumers use their mobile phones to pay for all kinds of tangible goods and services. It would seem this is ripe for importation stateside. In fact, trials in New York, San Francisco and other places have showed promising consumer interest in the technology. But rather than grow in deployment, this idea, known as near-field communications, or NFC, seems to have gotten lost in translation.
Put simply, NFC is simply a complex initiative to implement in a country like ours, while Japan’s adoption of NFC was a different animal. To read more about the challenges of mobile banking in the U.S., click on the source link below.
