Only 17% of UK consumers are ‘completely aware’ of what contactless mobile payments are, according to a survey by eDigitalResearch.
However, 67% of respondents have heard of the technology before, suggesting that more needs to be done to educate consumers about how NFC works.
This tallies with research published recently by VoucherCodes.co.uk which found that 55% of British consumers were unable to name a single mobile payment brand.
There’s been much excitement in the world of mobile payments around Square, a credit card reader that allows merchants to take payments using an iPad or iPhone.
More than 1m businesses have signed up to use the device in the US, but it still isn't available in the UK.
However, as of this morning UK retailers can apply to join the beta phase for iZettle, a mobile card reader backed by Carphone Warehouse founder Charles Dunstone.
It already has 50,000 users in the Nordic market since launching in its native Sweden last September, increasing the number of point of sales terminals on the region by 10%.
NFC smartphone payments are slowly making their way into the mainstream, but there is still a long way to go before we see widespread consumer adoption.
Visa plans to use the London Olympics as a showcase for mobile NFC, although the trial will only involve a limited number of athletes.
And the infrastructure for consumer adoption appears to be in place with more than 140,000 contactless terminals around the UK.
So what is holding smartphone payments back?
To find out more about NFC payments and the opportunity for retailers, I spoke to The Logic Group's marketing director Mark Kusionowicz.
Visa has confirmed that it will showcase mobile NFC payments at the London Olympics using Samsung’s new Galaxy S3.
Samsung even plans to create a limited edition handset for the occasion, but the bad news is that only athletes are being invited to take part in the trial.
The NFC payments are enabled using Visa payWave, an app that allows consumers to use their smartphone to pay for goods at the point of sale simply by touching it on a card reader.
Obama’s fundraising campaign has debuted a new SMS tool that allows supporters to make a donation simply by texting the number of dollars they want to contribute.
Last week a text message was sent to tens of thousands of previous donors asking them to again open their wallets.
According to Time, the message told supporters to “just reply with the amount you want to give and we’ll charge your saved credit card.”
Almost two-thirds of consumers would avoid making payments through their mobile using technologies such as NFC, according to research from VoucherCodes.co.uk.
The survey of 2,000 British adults found that 60% would avoid mobile payments altogether while 17% would be interested but would be worried about the technology working correctly.
Security concerns (36%) were the most common reason for avoiding mobile payments.
Mobile payment brands also appear to be making little headway in raising consumer awareness.
Square, the mobile payment upstart that's combined a credit card-reading dongle with the iPhone and iPad to take on established point-of-sale (POS) payment solutions providers, has been making frequent appearances in the news of late.
From attracting users like the Obama campaign and taxi drivers in New York City to overhauling its mobile app in an effort to drive consumers to local businesses, it appears that Square's $4bn-plus in annual payments processed could be just the tip of the iceberg.
It's easy to forget about SMS these days. After all, the rise of the smartphone has seemingly made SMS text messaging a thing of the past for many mobile phone users.
But is that really the case? Are smartphones marginalizing SMS to the point where it might be called effectively dead?
Visa Europe has acquired a 15% stake in m-commerce company Mobile Money Network (MMN), a further signal of its intent to become a dominant force in mobile payments.
MMN is the company behind the Simply Tap mobile checkout app that we reviewed yesterday.
Mobile payment app Simply Tap saw a 40% increase in registrations following a poster campaign that offered the chance to buy a Thorntons Easter egg for just 1p.
To access the offer users could either type in a code word, scan a QR code or use the app’s image recognition (IR) technology.
Mobile Money Network (MMN) corporate development director Matthew Smith said that the company, which built the app, quickly ran out of the promotional eggs due to high demand.