Contactless payment will be big in 2013

With mobile banking solutions seeing increased adoption and the presence of mobile devices permeating virtually every facet of our lives today, experts have predicted that four topics will dominate the financial services market in 2013, namely Contactless payments, commercial mobile payment offerings, cloud-based solutions and data analytics.

The 2013 predictions come as a result of Europe’s increased acceptance of m-banking services, an emerging adoption of m-payments, and long-term growth opportunities in international m-remittances. Also crucial to the predictions is the continued growth of contactless cards in Europe. Look back just five years at the London taxi trade, it was only the radio circuits that had the facility to process Debit/Credit cards, now more than 60 percent of London cabs can take a card payment and the number is growing every day