Mobile transactions are the hottest technology advancements within the mobile space. Mobile transactions include the ability to make purchases over the phone, redeem coupons and, now, perform near field communication. Near field communication allows users to swipe their Smartphones across a reader at checkout and pay for their purchases. No need to dig out your wallet or fumble in your purse for credit cards — your phone will be able to make the purchase for you!
Can’t wait to try the new technology? Well there are many caveats to the program:
- Must have the near field communication technology embedded on your phone. Samsung is the first carrier to offer the technology.
- Retailers must have the proper POS system to check you out.
- Your credit card must be tied to your smartphone; only a few credit card companies will have this capacity in the beginning.
- Google is set to announce the technology and will begin rolling it out on Android Smartphone.
- Google has partnered with Sprint to be the carrier. Most other major networks will not be able to start testing the technology until mid-2012.
- New York and San Francisco are the only current markets slated for the technology.
If you are in the market for a new smartphone, this is definitely technology you will want to consider when making your purchase.