Daragh O’Byrne, chief marketing officer, BPC Banking Technologies, BPC Group says:
"I don’t believe that NFC is going to be anywhere near as big as people think its going to be, in the next 12 or 18 months. This, for three reasons: firstly, the fact that many people don’t know how to use it needs to be overcome, which will take a huge marketing effort and educational piece.
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Then there’s going to have to be a technology roll out across hundreds of thousands of different points of sale in order to be able to use the devices. We know that NFC readers are being rolled out, but it’s still not ubiquitous.
The third obstacle is probably the biggest one. Even if the other two issues are solved, there is still an issue when the customer approaches a point-of-sale and is faced with the choice of payment method: cash, card or their phone. Lots of people don’t use cash anymore, particularly on self-service machines, but when it comes down to card versus phone I believe it’s still easier to use the card. You have to take your phone out of your pocket, probably have to swipe it to unlock it, enter some kind of PIN number in order to get into an application and then choose what kind of mechanism you will use to pay it, and then you tap it to pay.
We’re not going to get rid of the physical wallet anytime soon, maybe someone will come up with something new which will make give the consumer a reason to do it: to collect points, discounts, rewards at the POS or targeted offers. If something like that comes along, then we’ll see the adoption. But until then, I think we’ve got a technology in search of a problem."
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