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07:55 6th October 2011
Consumers are rapidly embracing the use of their smartphones to make payments and this trend is set to continue, according to Simon Curtis, SVP strategic sales and business development for YES-Wallet.com.
"Consumers have been using their mobile phones to make payments for some time; the Amazon fast checkout service has had a tremendous response, but also people are now used to using their mobile phone to make payments via AVR for things like fines and parking," he said.
The expert went on to say that people are now hooked on to their smartphones, spending on average over three hours per day.
"Usage will increase with the next generation phones which are being introduced this year, with NFC (Near Field Technology) and 4G coming very soon," he added.
His comments emerged as Howard Wilcox, senior analyst at Juniper Research, also said IT industry developments will allow for even more people to use their mobile devices to execute payments.
Posted by Derek Oldman
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