Emerging Technologies

Remote Payments on the iPhone: Account Access, Card Not Present and a Seamless Payment Experience

While card brands, issuers and behemoths in the mobile ecosystem struggle to make NFC a reality, opportunistic payment service providers are capitalizing on smartphones to grow transaction volume through information-rich interfaces, account access and even card not present payments. The iPhone's "there's an app for that" ethos has inspired vertically focused payment service providers to create custom apps that make the transaction experience as smooth as possible. Apple itself is enjoying the card not present / card on file ride. NFC's hegemony will spread across a diminished domain as a result of mobile account access and CNP transactions from vendors like Canopy Financial, RideCharge and Apple itself.

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