Mobile Meetings Series – mCurrency – enhanced convenience and revolutionary opportunity: How NFC technology could change the face of retail

To stimulate the global commercial environment, the mobile industry has developed Near Field Communications (NFC) – a contactless radio technology that can transmit data between two devices in close proximity. With a large range of operable on-line services, including the mobile wallet, mCurrency, eTicketing and couponing, NFC technology has quickly emerged as a promising tool to facilitate payment transactions and access the retail market.

From m-ticketing to m-currency, NFC has the potential not only to enhance consumer convenience, but also to create new business opportunities for Mobile Network Operators and Service Providers in their respective markets and deploy operational guidelines to many sectors, e.g. banks, retailers, transport, and in multiple EU countries. To realise the benefits NFC technology can offer the retail market, a new regulatory environment will need to be developed to satisfy both consumer and business considerations.

The GSMA event will showcase how NFC Technology is revolutionising mobile payment systems and enhancing consumer confidence through safer and more efficient services. Bringing together representatives from the GSMA, industry, and policymakers, the event will help demonstrate successful scenarios in which mobile technologies have simplified on-line commercial transactions.

The session will cover the following topics:

• How can m-currency strengthen consumer confidence and thus, enhance the internal single market in Europe?
• What are the most successful examples of mCurrency?
• How to provide safer and more operable services for consumers in respect of data protection and further access control?