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08 August 2013

MasterCard CEO: NFC should be seen as “a longer term effort”

MasterCard CEO Ajay Banga has suggested that NFC should be seen as a longer term effort, while acknowledging that some markets have adopted NFC much faster than others.

"I don't think these are 12 and 18 months things," he said during MasterCard's Q2 2013 earnings call. "Just think of the ecosystem and the infrastructure that needs to be built for any of these to happen and so I tend to look on it as a longer term effort."

"Some countries like Australia, Canada and Turkey are further ahead in NFC than others," he continued.

Banga also mentioned that MasterCard's MasterPass digital wallet, currently available in four countries, is now accepted by more than 20,000 merchants.

http://www.nfcworld.com/



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