Mobile Payments Popularity Goes Globe Hopping

Mobile Payments Popularity Goes Globe HoppingThe findings of a new study by SIA indicate that mobile payments are on fire in Europe.

“The results of the experiments over the past year with various banks and telcos confirm that mobile payments arouse great interest and can change behavior and habits,” Massimo Arrighetti, CEO of SIA, tells Reuters.

Milan-based SIA, owned by a group of mostly Italian banks which according to recent media reports are looking to sell a controlling stake, operates the bulk of Italy’s payment systems network and is present in around 40 countries.

Unlike the U.S., where mobile payments giants like PayAnywhere and Square dominate the industry, Italy is teeming with young market entrants and promising tech makers, all of whom want a piece of this growing Italian industry.

Arrighetti also said SIA will test a platform for mobile ticketing in three Italian cities next year with Telecom Italia. The platform – like the mobile payments system – is based on NFC (near field communication) technology.

“The gradual process of eliminating cash is underway, also due to the new generations of users, and the mobile phone can certainly make an enormous contribution to the development of new payment methods and other services useful in our daily lives,” Arrighetti adds. “However, it is necessary to create real situations in which to use them and to promote collaboration among all the players involved.”