Which technology is more viable for the future of payments?

Which technology is more viable for the future of payments?

The world of payments is a hard one to predict. Sure, you can take a look at trends and some cold-hard data to make your predictions, but the game has changed. Where innovation used to hinge on a top-down model of integration, people bending to the whim of payments companies. Now it’s about payments companies catching up with customers and human nature. It’s about ensuring that their needs are cared for, and that they snap up the next piece of software you put in front of them – largely because it solves an issue they had.

As part of this debate of what the future of payments holds, is the question of NFC or Bluetooth Low Energy (BLE). Both have their advantages, and disadvantages in equal measure. But is there a sure-fire winner in this competition? Or is one method better suited to some situations instead of others?

NFC has certainly been around for longer, so maybe it’s potential for the future isn’t as expansive as the more recent BLE technology.

But BLE also has its own limitations in terms of features and implementation, so perhaps it’d be far harder to get the retail market to buy into such a new piece of tech.

Take a look at our infographic above to see how NFC and BLE weigh up against each other as the future of payment technology.