NFC to enable $48 billion in in-store mobile payments by 2017
TweetFollow Us on Twitter

NFC to enable $48 billion in in-store mobile payments by 2017

Strategy Analytics (www.strategyanalytics.com) has lowered its outlook for NFC-based mobile payments to reflect the slow pace at which operators are pushing NFC payment services, limited NFC payment deployments by handset makers, and the continued slow adoption of contactless payments by retailers.

The research group estimates that 115 million NFC handset owners will spend just over US$48 billion using their NFC phones by 2017. Although that's a large amount, it represents a drop in the ocean of the multi-trillion dollar global retail sector. 

The healthy growth in sales of NFC handsets has yet to be matched by the adoption and use of handset based NFC payments services, with many mobile operators pushing back the launch of NFC-based mobile payment into the final quarter of 2013 or in to 2014 and beyond.

"With the exception of China, where we see some momentum from China Mobile deploying its mobile wallet service, fewer mobile operators than anticipated launch NFC payment services in 2013," says Nitesh Patel, Director, of the Wireless Media Strategies (WMS) service at Strategy Analytics. "Furthermore, handset OEM Samsung, which announced its strategic partnership with VISA Inc. in February 2013 has yet to officially offer a secure payments service based on that relationship."

While acceptance of contactless payments at point-of-sales (POS) terminals takes time to grow, and operator efforts at launching NFC services remains anemic, alternative methods of making in-store mobile payments through merchant friendly solutions such as LevelUp and Square Wallet have gained pockets of traction, and are fragmenting the mobile payment sector.

The prospect of both Apple and PayPal launching alternative mobile payment solutions based on Bluetooth Low Energy (BLE), not NFC, and increasing interest in dynamic QR codes from PayPal, adds further uncertainty to the role of NFC in supporting in-store mobile payments," David MacQueen, executive director of Media & Apps at Strategy Analytics says. "herefore, the success of ISIS, the NFC-supported mobile wallet joint venture between operators AT&T, T-Mobile and Verizon is not guaranteed, despite its scale."

 
AAPL
$102.47
Apple Inc.
+2.71
GOOG
$526.54
Google Inc.
+5.70
MSFT
$44.88
Microsoft Corpora
+0.80
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Fiete – A Day on a Farm Review
Fiete – A Day on a Farm Review By Amy Solomon on October 21st, 2014 Our Rating: :: A MEMORABLE EXPERIENCEUniversal App - Designed for iPhone and iPad Fiete – A day on a farm in an interactive app for young children full of impressive art and sound effects.   | Read more »
Tilt to Live: Gauntlet’s Revenge is Almo...
Tilt to Live: Gauntlet’s Revenge is Almost Here Posted by Jessica Fisher on October 21st, 2014 [ permalink ] One Man Left has announced the official release date of Tilt to Live: Gauntlet’s Re | Read more »
Sago Mini Monsters Celebrates Halloween...
Sago Mini Monsters Celebrates Halloween with Fun Costumes and Special Treats. Posted by Jessica Fisher on October 21st, 2014 [ permal | Read more »
Inferno 2 Review
Inferno 2 Review By Andrew Fisher on October 21st, 2014 Our Rating: :: TWIN STICK GOODNESSUniversal App - Designed for iPhone and iPad With tight controls and awesome, stark visuals, Inferno 2 is loads of fun.   | Read more »
Clips Review
Clips Review By Jennifer Allen on October 21st, 2014 Our Rating: :: CONVENIENT PASTINGUniversal App - Designed for iPhone and iPad Making copying and pasting more powerful than usual, Clips is a great way to move stuff around.   | Read more »
MonSense Review
MonSense Review By Jennifer Allen on October 21st, 2014 Our Rating: :: ORGANIZED FINANCESiPhone App - Designed for the iPhone, compatible with the iPad Organize your finances with the quick and easy to use, MonSense.   | Read more »
This Week at 148Apps: October 13-17, 201...
Expert App Reviewers   So little time and so very many apps. What’s a poor iPhone/iPad lover to do? Fortunately, 148Apps is here to give you the rundown on the latest and greatest releases. And we even have a tremendous back catalog of reviews; just check out the Reviews Archive for every single review we’ve ever written. Pokemon TCG   | Read more »
Angry Birds Transformers Review
Angry Birds Transformers Review By Jennifer Allen on October 20th, 2014 Our Rating: :: TRANSFORMED BIRDSUniversal App - Designed for iPhone and iPad Transformed in a way you wouldn’t expect, Angry Birds Transformers is a quite entertaining auto-runner.   | Read more »
GAMEVIL Announces the Upcoming Launch of...
GAMEVIL Announces the Upcoming Launch of Mark of the Dragon Posted by Jessica Fisher on October 20th, 2014 [ permalink ] Mark of the Dragon, by GAMEVIL, put | Read more »
Interview With the Angry Birds Transform...
Angry Birds Transformers recently transformed and rolled out worldwide. This run-and-gun title is a hit with young Transformers fans, but the ample references to classic Transformers fandom has also earned it a place in the hearts of long-time admirers of Optimus Prime. Nick Harper (Game Director for Exient Entertainment) and Mika Rahko (Executive... | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.