[Techtaffy Newsdesk]
Randy Vanderhoof, executive director of the Smart Card Alliance, was called to be a witness at the Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit hearing, “The Future of Money: How Mobile Payments Could Change Financial Services.” Testifying before Congress on mobile payments, Mr. Vanderhoof elaborated on NFC mobile contactless payments.
Mr. Vanderhoof focused on the evolution of mobile payments technology and its potential future impact on financial services. “The future of money, as this hearing is entitled, is being positively impacted by mobile technology,” said Mr. Vanderhoof. “The changes in financial services addressed at this hearing are being well managed and securely protected by the smart card elements that integrate NFC technology into mobile devices, and the collective knowledge and resources of the financial and mobile industries.”
You can find the full testimony here.