Citi has recently completed a successful mobile, NFC based, payments trial in Bangalore India. In the trial, over 3,000 participants were provided subsidies to purchase Nokia handsets with NFC chips that supported contactless payment functionality. Citi feels that the trial was successful, with participants actively using the service and the business case being validated for mobile payments. With this success, Citi will look to take the learnings from the trial and apply them to the market in the U.S.. Read more...
The company, which has completed a Near Field Communication project in India, finds that NFC-based retail applications can be successful—with the proper mix of marketing, incentives and execution. The pilot broke new ground, the study found, because of its size—the largest NFC contactless payment pilot in the world to date, according to Citibank. Read more...
