Eric Schmidt, Google’s executive chairman, believes that a third of check-out terminals in retail stores and restaurants will be upgraded to allow wireless “tap and pay” from mobile phones within the next year.
Such a development will prepare the ground for what he believes will be a “trillion dollar” industry of mobile advertising and payments.
If you’re confused by all the ways that NFC (Near Field Communication) chips are going to enable mobile transactions, here’s a technology whose implementation even your dog can understand. Zoosh, developed by Silicon Valley start-up Naratte , uses sound at the ultrasonic level that dogs, dolphins and frogs can hear to complete transactions. Its software can make any device with MP3 playback, a speaker and microphone capable of making and receiving payments.
Tech news from around the web:
- Apple chief executive Steve Jobs has agreed to participate in a book about his life, ABC reports. Simon & Schuster announced on Sunday that Walter Isaacson’s “iSteve: The Book of Jobs” will be published in early 2012.
Reports that Apple could include near-field communication tags in its next iPhone, allowing people to transfer data – and probably iTunes payments – to and from their phones, have got tech watchers very excited indeed.
Near Field Communication, approved as a standard seven years ago, has gone viral just this past week.
Google’s CEO led off his interview at the Web 2.0 Summit with a demonstration, Research in Motion said BlackBerrys would have it and AT&T, T-Mobile and Verizon announced the ISIS joint venture to develop a national NFC network in the US.
But what is it and why the sudden attention?
Themobile wallet is one of those mythical beasts of the cell phone world that elusively stays away from mass-market implementation.
However, an Oregon-based company called Tyfone has at least come up with a simple way to add the technology to millions of handsets.
There are signs the mobile payments market is really taking off at last with Nokia announcing a substantial investment in service provider Obopay today.
The amount, understood to be in the region of $70m, is being put in by Nokia itself rather than its venture arm and gives it a minority stake in the Silicon Valley company.