NFC on iPhone 6 and Apple Watch

RNS Number : 6086R

Proxama PLC

15 September 2014

 

Proxama plc

NFC on iPhone 6 and Apple Watch

The Directors of Proxama plc, the Aim listed mobile proximity commerce company believe that last week's announcement of Apple's NFC capability in the iPhone 6 and Apple Watch is a major industry milestone and likely to significantly accelerate the adoption of contactless mobile payments in the UK, Europe and the US. The announcement also cements NFC technology as the point-of-sale payment standard in all smartphones.

Apple's adoption of NFC is a vindication of Proxama's strategy: that mobile is core to a combined world of payments, marketing and the redemption of offers on mobile at point-of-sale. The announcement overcomes the last barrier to mass adoption of the technology on smartphones and we expect to see a significant change in the pace and urgency with which banks, brands and retailers develop plans to take advantage of the technology and its many potential uses.

To date there has been some hesitancy amongst banks and brands to deploy NFC based services until the technology had been adopted as a standard across all smartphones. Apple is the last of the major smartphone manufacturers to include NFC, therefore this barrier has now been removed.

Commenting on NFC at the launch of the iPhone 6 and the Apple Watch, Tim Cook CEO of Apple said it would " ignite the mobile payments market globally" meaning that NFC is THE technology for POS payments globally aligning with the services being deployed by existing card schemes.

Furthermore the card schemes intend to fast track the deployment of contactless terminals across Europe (MasterCard's recent announcement - http://bit.ly/1tH50ds) and the US,where the retail contactless acceptance network is expected to reach 7 million terminals by the end of 2015.

Proxama has over nine years' experience in the development and deployment of consumer services using NFC, in particular contactless payments, marketing and for the use of NFC to redeem mobile delivered vouchers and offers at point-of-sale. As a market leader, Proxama has deployed its two technology platforms TapPoint® and CardGateway™ with companies such as ARM, Trustonic, Barclaycard, MasterCard, Softcard (formerly ISIS), WEVE, Argos, Diageo and many more.

Recently, the company opened an office in San Francisco and is actively expanding its presence in the USA to establish closer strategic partnerships with US technology companies and to service a growing US demand for its experience and services in NFC.

Commenting, Neil Garner Chief Executive of Proxama said "The inclusion of NFC in iPhone 6 fully endorses our vision and strategy, and in time, will speed up the growth in scalable revenues once our partners re-align their strategies to incorporate the new roadmap based on these new capabilities on Apple devices.

Investors can see a video broadcast of the impact of iPhone 6 given by Miles Quitmann, Chief commercial Officer of Proxama at:  http://www.proactiveinvestors.co.uk/companies/stocktube/3054/proxamas-quitmann-on-impact-of-iphone-6-and-apple-pay-3054.html

For further Information:

Proxama plc Neil Garner, Chief Executive Miles Quitmann, Chief Commercial Officer Coen van Breda, Chief Financial Officer	020 7959 2298
Cadogan PR Alex Walters	0207 499 5002 07771713608

About Proxama

Proxama is a global platform provider of mobile proximity commerce solutions: for mobile NFC contactless payments and mobile proximity marketing and loyalty. Our solutions are used by financial institutions, media owners, stadium owners, retailers and brands.

Our two technology platforms, TapPoint® and CardGateway™, sit at the heart of our business. TapPoint® delivers proximity engagement and loyalty solutions for retailers, media owners, stadium owners and brands by utilising technologies such as NFC, Bluetooth LE (beacons), geo-fencing and QR codes. CardGateway™ is our mobile contactless (NFC) payment platform that enables banks to transition their card portfolio onto mobile, for mobile contactless payments.

http://www.proxama.com 

 

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