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23/12/2010 -
Visa is in a position to make a large profit from the payment processing of mobile transactions as this sector continues to grow in popularity.The increase in debit and credit card use over cash and check in recent years has bolstered the number of transactions processed by Visa for a steady growth rate of 10 percent in the last couple of years, not including 2008, Nasdaq reports.
In 2009, the number of mobile payment users grew to 73.4 million, nearly a 70 percent increase over 2008, according to the news source, which predicts the total to reach 190 million by 2012.
"Visa earns revenues by charging fees for its transaction processing service, which involves routing payment information to facilitate the authorization, clearing and settlement of transactions. These revenues depend heavily on the number of transactions that are processed by Visa," the source writes.
Many mobile payment carriers are now offering Near Field Communications. A recent Mercator report predicts that 116 million smartphone will have NFC capabilities in 2011 and reach more than 510 million in 2015.
