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Edition: U.S. Article Comments (0) Global Technology Summit Facebook looks at China Competition gets ugly in hot mobile games market Google, Apple not unassailable in smartphone race Verizon eyes family data plans European start-ups shy away from IPO frenzy Venture funds look beyond social media Alcatel CEO looks to future growth SAP sees growth from new businesses NXP says demand for NFC chips to soar Video: LivingSocial's Tim O'Shaughnessy on company growth Follow Reuters Facebook Twitter RSS YouTube Read Israel's Netanyahu rejects Obama proposal on borders | 4:44pm EDT Famed pro wrestler "Macho Man" dies in crash 2:45pm EDT Media zoom in on mystery Schwarzenegger mistress | 18 May 2011 Sony hacked again 3:14pm EDT Spain government rethinks ban as youth protests grow 4:19pm EDT Discussed 104 Texas county official says ”stupid” feds sparked fire 101 Obama and Netanyahu face tense meeting on Mideast 81 Israel-Palestinian violence erupts on three borders Watched End of the world as we know it...on May 21 Wed, May 18 2011 Arnold Schwarzenegger's mystery woman identified Thu, May 19 2011 Netanyahu rejects Obama proposal Sat, May 21 2011 small business The top 100 business minds What does the head of Al Jazeera and comedian Conan O'Brien have in common? They're two of the world's 100 most creative business people, according to Fast Company magazine. See who else made the list. Full Article VC funds look beyond social media Can a Navy SEAL help your business? Bad weather is big business for startup Mobile wallet roll out starts with small change Tweet Share this By Roberta B. Cowan PARIS (Reuters) - Virtual wallet technology that lets people pay for a coffee, newspaper or sandwich by swiping a cell phone at a checkout is finally set to start rolling out, executives told the Reuters Technology Summit this... Email Print Related News Verizon eyes family data plans Thu, May 19 2011 Top quotes from the Global Technology Summit Thu, May 19 2011 NXP says demand for NFC chips to soar Thu, May 19 2011 Mobile hacking sets off security gold rush Wed, May 18 2011 Intel chief says doesn't need ARM for mobile chips Tue, May 17 2011 Analysis & Opinion Tech wrap: LinkedIn shares skyrocket in debut America needs a 21st century immigration policy Related Topics Technology » Personal Finance » Media » Richard Clemmer, chief executive of NXP Semiconductors, attends a Reuters Global Technology Summit in Paris May 19, 2011. Credit: Reuters/Charles Platiau By Roberta B. Cowan PARIS | Fri May 20, 2011 3:48pm EDT PARIS (Reuters) - Virtual wallet technology that lets people pay for a coffee, newspaper or sandwich by swiping a cell phone at a checkout is finally set to start rolling out, executives told the Reuters Technology Summit this week in Paris. Retailers, fast-food chains, advertisers and banks are preparing for a sea change in electronic commerce as more smartphones capable of making financial transactions are released. Many say it will change the way they do business. Near-field-communication (NFC), the technology most likely to be used in the West, is a wireless way to swap data at short range, which means NFC-enabled smartphones can pay for goods, store electronic tickets, collect coupons or swap photos. "2011 is likely the year when NFC could be on its way to become a mainstream technology in U.S. and Western Europe," said Andrew Gardiner, an analyst at Barclays Capital. Richard Clemmer, chief executive of top NFC chipmaker NXP, said Google has given a great boost to adoption by including NFC capability in its Android software, which is used by smartphone makers the world over. "We co-invented the NFC technology eight or nine years ago with Sony. We tried to push it but frankly we just didn't have the influence," he told the summit. "What we did by aligning with Google allowed us really to have a much larger impact. We'd been working with credit card companies, and it kept being on the roadmap four quarters out." On Friday, Orange and Barclaycard launched Britain's first mobile payments service, allowing certain customers to make small payments in branches of fast-food chains including McDonald's and Subway. In other countries, notably Japan and South Korea, NFC technology is already well established. "I was blown away in Japan by NFC payments in action and with the ease and convenience of payments," Timo Soininen, chief executive of Finnish Web games company Sulake, said when asked what was the coolest thing he had seen in technology this year. "It will change everything." Clemmer said every smartphone manufacturer was looking at putting NFC in its phones. He reckons up to three-quarters of all smartphones will be NFC phones in five years and that some traditional phones will also start adding the technology, particularly for use in developing markets in Africa and Asia. Barclays Capital's Gardiner said: "NFC has the potential to evolve into a billion-dollar-plus semiconductor market over the next four to five years." LOW RISK, SMALL CHANGE TO DRIVE FIRST WAVE Low risk data transfers like using NFC to read tags on movie posters, connect to wifi at cafes and swap business cards will help boost acceptance and drive the first big wave of NFC rollout to the consumers. The interaction of smart posters and coupons is projected to help drive the adoption of NFC with consumers, according to Don Tait from IMS Research in the UK. IMS estimates that by 2015 there will be more than 900 million devices with NFC technology including cellphones but also in terminals, laptops, tablets, tags, tokens, posters, watches, headsets and ATMs. The "physicalisation of social media" or swapping LinkedIn Profiles or Facebook pages, Foursquare checkins and sharing games on line, is expected to be one of the most popular uses, according to David Birch from Consult Hyperion. Electronic payments will still be the key driving force in the widespread acceptance of NFC, but initially the financial amounts in question will remain limited. The Barclays-Orange mobile service launched on Friday only allows transactions up to 15 pounds, ($24) at a time, since the initial scheme wants to try to replace the cash people fumble for when looking to pay for that first coffee or morning paper. "Right now we are looking at areas around low value transactions, as we're trying to see what consumers want and how much they feel comfortable with, said James Rees from Orange, adding that eventually that sum would be raised. Opera Software co-founder Jon von Tetzchner told the summit NFC in its current form was "cute" but that he's still waiting to be able to do "real commerce" from the mobile phone, at least as much as is now currently possible from a personal computer. From initial NFC trials, consumers have found NFC-enabled phones intuitive and easy to use and finding it easy will help the technology to be adopted by wide sectors of the population. Olivier Piou, chief executive of smartcard maker Gemalto speaking at the summit said NFC pilot projects Gemalto has been involved with have shown that consumers find it so easy, they welcome using the technology. "If you ask a grandmother in Nice or Colombia, for them it is normal, it's just a wireless device, and the fact that it works by proximity is absolutely normal." (Writing by Roberta B. Cowan. Editing by Jane Merriman) Technology Personal Finance Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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