By Heather McLean

Consultancy firm, Piran Partners and IT consultancy, Consult Hyperion have partnered to address the NFC mobile payments environment, and to answer the question of how to develop a sustainable NFC economic business model.

According to Paul Everett, a partner at Piran Partners: “Although industry analysts predict one in six mobile subscribers worldwide will be NFC enabled by 2014 with global transactions exceeding $110 billion; the question remains, does this create a viable business opportunity? Currently we see the banks, mobile operators, retailers and vendors all trying to capture revenues from this new mobile NFC ecosystem. Who will make money and how? ”

Nick Norman, vice president for sales at Consult Hyperion, added: “Our analysis concludes that implementing the current financial payments model for NFC mobile payments is insufficient to sustain an extended value chain. To be sustainable, the sector needs an value network encompassing new opportunities for banks, retailers and consumers and enabled by the latest two way mobile NFC devices also need to be fully embraced.”

Using their commercial and operational strengths in both the telecommunications and banking sectors, Consult Hyperion and Piran Partners have developed a process enabling third parties to create and deliver a sustainable NFC go to market strategy.

At the process’ core is an NFC economic model developed to ensure clients have the best chance of success. The process is built on both companies’ values of independence, experience and commercial focus, they claimed.