Mark Horwedel is CEO of MAG, the Merchant Advisory Group. He has been in the payments industry for over 30 years serving in a variety of roles including CEO of Money Network, a PIN debit network operating in the 80s and the 90s, and director of Payments at Wal-Mart.
After several years of dormancy, Apple resurrected Near Field Communications (NFC). However, it remains to be seen if NFC will ultimately prosper and become the kind of ubiquitous payment technology that today is unique to payment cards.
There should be little debate as to whether the U.S. payment system is falling behind the rest of the world. Great Britain and others lead the world in real time payment options at affordable prices to consumers, merchants and other payment stakeholders.