Motorola invests in INSIDE Contactless
Motorola announced today that it has invested an undisclosed amount in INSIDE Contactless, a world leader in contactless payment chips and near field communications (NFC) technologies for mobile devices. These technologies allow for secure payments and interactive advertising on mobile devices, an important factor in a future that demands greater mobile device versatility.
This kind of technology will allow users to make instant purchases simply by waving their phones near an NFC reader. Managing director of Motorola Ventures Reese Schroeder says "the days of true mobile commerce on consumer devices inch closer to reality with contactless payment and NFC technologies" and that "INSIDE Contactless’ products stand out in the marketplace and are valued for their ability to efficiently enable consumer devices with mobile commerce capabilities.” Nokia and Visa have also invested in INSIDE and Sprint and HSBC are already in the NFC trial stage in major American cities. Apple too is expected to negotiate with financial institutions this year to bring the iPhone into the picture. It seems that it's a pretty good bet that mobile commerce is the next big step in mobile technology and should be developing rapidly over the next few years. Read more here.
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