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Sunday, October 2, 2011

NFC mobile payments will soon become mass-market according to new report

ABI Research predicts that NFC payments will be a mass market-adopted behaviour in the USA and Western Europe in 2016, arguing against analysts who say they’ll remain a hype-driven phenomenon.

Mark Beccue, senior analyst for mobile money at ABI Research, said “Despite the lack of definitive announcements to date, MNOs and OEMs will flood some markets with NFC payment-ready smartphones in 2012 and 2013. That, along with momentum from Google Wallet and several other MNO-led initiatives, like Cityzi in France, ISIS in the US, and the yet unnamed MNO JV in the UK, builds the installed base of NFC mobile payment users to more than 16% of mobile subscribers in the U.S. and Western Europe by late 2014.”

Over $100 billion (£64 billion) is expected to be spent worldwide using NFC in 2016.

[Report]

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