This article by Jay Rivera, Senior Director of Solution Innovation at Merchant Warehouse discusses the battle being waged between QR and NFC for the mobile wallet. Jay compares this to the battle that took place between Sony and JVC in the 1970’s with the Betamax and VHS standards. The reasons VHS succeeded over Betamax may not be so different from the reasons either QR or NFC will succeed as the primary method for making payments with mobile devices. To put it briefly, the high cost of Betamax machines compared to VCRs and the superior features of VHS made it the victor.
In the NFC versus QR battle, there are benefits and drawbacks of each and major corporations supporting each option. Some popular examples of QR payment systems are Apple Passbook, LevelUp, and Kuapay while NFC payment systems include ISIS and Google Wallet.
To discover the benefits and drawbacks to each mobile wallet technology, payment transmission standards, and supporting manufacturers, please log in or register below.