SA not ready for NFC technology yet

South African banks and retailers are likely to be slow to adopt near-field communications (NFC) technology for mobile payments because of the high costs of installing point-of-sale terminals and other enabling infrastructure. That's the word from Tim Walter, executive head of marketing at Nashua Mobile, who says that there is little appetite among institutions to drive adoption of yet another new point-of-sale payment technology just as the end of their protracted rollout of the EMV credit card standard is in sight.