MWC 2014: rebirth of NFC and revolution of mobile wallets

Mon, 24 Nov 2014

Payspace participated in a world famous event Mobile World Congress 2014 that took place in Barcelona on February, 24-27, 2014. All the highlights of the Congress, from presented innovative solutions to panel discussions and debates suggest that payments have become an integral part of the mobile ecosystem. Payment innovations in mobile became the central topic of this large event.

One of the most anticipated new products presented at the conference, was the new smartphone Samsung Galaxy S5, equipped with the function of biometric identification and NFC-technology. The special point was its integration with payments PayPal.

Undoubtedly, one of the main "newsmakers" at the Mobile World Congress was MasterCard. It announced not only the expansion of the functionality of its mobile solutions, in particular MasterPass, but also a number of new partnerships, such as cooperation with Syniverse and leading European mobile operators Deutsche Telekom, Telefonica Deutschland and Vodafone. Besides, the company announced the acquisition of a mobile payment service C-SAM aimed to expand the company in the market of mobile payments in Europe and the world.

Major trends at the mobile payments market announced at the conference:

  • Reincarnation of NFC
  • Rise of HCE technology
  • Stimulating technologies through cooperation of companies
  • Wearable electronics.