Mobile Banking platform provider, mFoundry, has upped the mobile payment stakes by allowing banks to offer NFC payment solutions to their customers, within the banks’ mobile app. This is significant, because not only does it allow banks to defend against competitive offerings from Google Wallet and others, but it also allows customers the convenience of making payments from the same placed where they manage their other financial transactions.
According to the press release, the software will allow consumers to quickly pay for items using their NFC enabled phones at MasterCard’s network of existing and planned Tap & Go ™ PayPass locations.
We anticipate that as the proliferation of NFC based phones continues, embedded payment functionality will surpass remote deposit capture as a benchmark capability for leading mobile banking applications.
See additional coverage at Engadget Mobile.
