Sprint To Introduce NFC Mobile Payment Service This Year

Sprint Nextel has announced its plans to launch NFC mobile payment services for its customers this year, ahead of other major rivals AT&T, T-Mobile and Verizon.

The company stated that they are working on their own version of the NFC payments feature, with the end result expected to hit the market soon.

Near field communication is technology which allows customers to make payments by just waving their NFC equipped smartphones in front of a compatible cash counter at retail outlets.

Sources inside Sprint have confirmed that the bills of all the transactions made using the NFC feature will be sent with the regular card statements of the users. Reports also suggest that the system, as in the case of rival project 'Isis', will take a small portion of each transaction made.

The company’s vice president of product platforms, Kevin McGinnis said in a statement, “We intend to make this an open solution where consumers can use their phone in a variety of physical locations. Because we’re allowing other brands to participate, they can also tell their consumers that this is available on Sprint.”

However, considering the fact that the company has been conducting multiple series of tests on the project since 2007, it will be really interesting to see how Sprint’s own version of the NFC technology is received in the market.