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
$102.50
Apple Inc.
+0.25
GOOG
$571.60
Google Inc.
+2.40
MSFT
$45.43
Microsoft Corpora
+0.55
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

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

Rhonna Designs Magic (Photography)
Rhonna Designs Magic 1.0 Device: iOS Universal Category: Photography Price: $1.99, Version: 1.0 (iTunes) Description: Want to sprinkle *magic* on your photos? With RD Magic, you can add colors, filters, light leaks, bokeh, edges, blur, texture, & even load in your own images! Follow us @rhonnafarrer for more details &... | Read more »
This Week at 148Apps: August 25-29, 2014
Shiny Happy App Reviews   | Read more »
Qube Kingdom – Tips, Tricks, Strategies,...
Qube Kingdom is a tower defense game from DeNA. You rally your troops – magicians, archers, knights, barbarians, and others – and fight against an evil menace looking to dominate your kingdom of tiny squares. Planning a war isn’t easy, so here are a few tips to help you take apart your enemies. Attention All Cube Warriors: Want to know what we... | Read more »
Qube Kingdom Review
Qube Kingdom Review By Nadia Oxford on August 29th, 2014 Our Rating: :: KIND OF A SQUARE KINGDOMUniversal App - Designed for iPhone and iPad Qube Kingdom has cute visuals, but it’s a pretty basic tower defense game at heart.   | Read more »
Fire in the Hole Review
Fire in the Hole Review By Rob Thomas on August 29th, 2014 Our Rating: :: WALK THE PLANKUniversal App - Designed for iPhone and iPad Seafoam’s Fire in the Hole looks like a bright, 8-bit throwback, but there’s not enough booty to make this a compelling voyage.   | Read more »
Alien Creeps TD is Now Available Worldwi...
Alien Creeps TD is Now Available Worldwide Posted by Ellis Spice on August 29th, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Dodo Master Review
Dodo Master Review By Jordan Minor on August 29th, 2014 Our Rating: :: NEST EGGiPad Only App - Designed for the iPad Dodo Master is tough but fair, and that’s what makes it a joy to play.   | Read more »
Motorsport Manager Review
Motorsport Manager Review By Lee Hamlet on August 29th, 2014 Our Rating: :: MARVELOUS MANAGEMENTUniversal App - Designed for iPhone and iPad Despite its depth and sense of tactical freedom, Motorsport Manager is one of the most accessible and addictive management sims around.   | Read more »
Motorsport Manager – Beginner Tips, Tric...
The world of Motorsport management can be an unforgiving and merciless one, so to help with some of the stress that comes with running a successful race team, here are a few hints and tips to leave your opponents in the dust. | Read more »
CalPal Update Brings the App to 2.0, Add...
CalPal Update Brings the App to 2.0, Adds Lots of New Stuff Posted by Ellis Spice on August 29th, 2014 [ permalink ] | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.