Often, new technologies may seem a little too far-fetched for current market models, but for the mobile payments and mobile banking world, this is no longer the case. Granted, many technologies, such as near-field communication, have now been around for many years, and for much of this time, many high-profile figures from the payments industry have been claiming that 'next year will be the year of NFC'. But as more and more technologies come together, business models that may have started as closed-loop systems are linking with others to form a bigger web of connected payments. This may mean that NFC's time is soon.
The smartphone is, of course, at the heart of this evolution. In this regard, personalised and real-time marketing and virtual wallets are not just the future of big business. They are already a viable proposition, and one that looks set to blossom in the near future.
