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01/07/2011 -
According to one recent study, the majority of consumers have no interest in using their smartphones for payment processing.The report conducted by Retrevo revealed that 53 percent of consumers were not interested in using the so-called near field technology and further found that 26 percent had never heard of it.
"NFC involves putting a chip in a device, like mobile phones, allowing the phones to make purchases without the need for a credit card or cash. In addition to making purchases, the NFC technology also allows a person to carry other items typically contained in a wallet such as library, Oyster and insurance cards," the report said.
The relatively new technology could have a big impact on the payment processing sector, as industry heavyweights such as Google get into the game.
The search engine giant's Google Wallet, which works with NFC technology, made headlines after the company announced that it would be available on the iPhone. The announcement was made by Google's executive chairman Eric Schmidt at the Cannes Lions Advertising Festival, Techradar reports.
