Payment Observer spotlight company. See more details here about one of the up and coming service providers in the financial services for small business.

GSMA announced that 45 of the world’s largest mobile operators have committed to support and implement SIM-based Near Field Communications (NFC) solutions and services. The GSMA has also published a new set of industry specifications to enable the development of secure and ubiquitous mobile NFC services. Standardization of mobile NFC allows interoperability between NFC devices and enables users to benefit from services around the world, regardless of mobile operator, network or device type.

Many merchants see significant potential for NFC as a payment technology: According to ABI Research, 85% of all new POS terminals shipped in 2016 will be NFC-enabled. Embedding NFC into SIM cards looks like a very smart move to bring NFC technology to the masses.

Franco Bernabe, Chairman of the GSMA, and CEO and Chairman of Telecom Italia commented: “NFC is an important innovation for consumers around the world, and while it is perhaps best known for enabling secure mobile payments, it will also enable a wide range of innovative and exciting new services and applications, such as mobile ticketing, entertainment services, secure access to hotels or cars, loyalty schemes and couponing, among others.”