New eMoney Module Enables Businesses to Track and Manage NFC Transactions
Spendvision has launched the eMoney module, which allows businesses to capture, manage and report on purchases made using near field communication (NFC) technology. The module will enable emoney transactions to be integrated with all other types of spend, making it easier for staff to record all expenses, irrespective of the payment method used, ultimately affording businesses greater insight into what employees are spending.
Momentum is growing for services that enable consumers to purchase low value items by tapping their mobile phone or a pre-paid card against a reader at the checkout. Juniper Research recently predicted that global NFC mobile contactless payment transactions will reach nearly US$50bn worldwide by 2014. However, as more employees start buying goods and services in this way, enterprises are faced with significant challenges as they attempt to incorporate digital cash into the overall picture of corporate spend.
Spendvision’s module is available worldwide, with the company expecting initial uptake to be most significant in Japan, where the use of NFC is more advanced.