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
$112.65
Apple Inc.
+3.24
GOOG
$511.10
Google Inc.
+6.21
MSFT
$47.52
Microsoft Corpora
+1.78
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

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

The Hit List — Simply Powerful Tasks, To...
The Hit List — Simply Powerful Tasks, To-Dos, Projects, & Reminders 2.0 Device: iOS iPhone Category: Productivity Price: $9.99, Version: 2.0 (iTunes) Description: >> LAUNCH SPECIAL: The Hit List 2 for iPhone is ONLY $9.99 for a LIMITED TIME. << | Read more »
Mahjong Journey Review
Mahjong Journey Review By Jennifer Allen on December 18th, 2014 Our Rating: :: STEADY MATCHINGiPad Only App - Designed for the iPad Aimed at the more laid back gamer, Mahjong Journey isn’t for everyone, but those looking for some classic solitaire action will be happy.   | Read more »
Emoji Type - custom keyboard with predic...
Emoji Type - custom keyboard with predictive emojis 0.4.0 Device: iOS iPhone Category: Utilities Price: $.99, Version: 0.4.0 (iTunes) Description: Emoji Type is custom keyboard for iOS 8 that auto suggests emojis as you type. ABOUT EMOJI TYPE | Read more »
Game of the Year 2014 – 148Apps Staff Pi...
The end of 2014 is almost here, which can only mean one thing. Okay it can mean a lot of things, but in this specific context it means Game of the Year lists! Which is why the 148Apps staff have all picked their favorites from the past year. And why we’ve put them all into one handy list for you all to enjoy. It’s a nice list, too. Lots of variety... | Read more »
UponPixels Review
UponPixels Review By Jennifer Allen on December 18th, 2014 Our Rating: :: CREATIVE TYPOGRAPHYUniversal App - Designed for iPhone and iPad Add cool typography and objects to your photos with the easy to use UponPixels.   | Read more »
The Vikings are Coming! CastleStorm’s Ne...
The Vikings are Coming! CastleStorm’s New Update Adds a Survival Mode Posted by Jessica Fisher on December 18th, 2014 [ permalink ] | Read more »
Duet Display (Productivity)
Duet Display 0.3.3 Device: iOS Universal Category: Productivity Price: $9.99, Version: 0.3.3 (iTunes) Description: Duet Display allows you to use your iPad or iPhone as an extra display. Developed by a team of ex-Apple engineers, duet is the first high performance solution that has zero lag. | Read more »
Dragon Quest III Review
Dragon Quest III Review By Jennifer Allen on December 18th, 2014 Our Rating: :: DATED BUT NOT WITHOUT MERITUniversal App - Designed for iPhone and iPad A walk down memory lane isn’t foolproof for Dragon Quest III, but it has its merits.   | Read more »
8 KEMCO JRPGs Are Just $0.99 in Celebrat...
8 KEMCO JRPGs Are Just $0.99 in Celebration of the Holidays Posted by Jessica Fisher on December 18th, 2014 [ permalink ] KEMCO has announc | Read more »
Brothers in Arms 3: Sons of War Review
Brothers in Arms 3: Sons of War Review By Jennifer Allen on December 18th, 2014 Our Rating: :: FUN BUT PUSHYUniversal App - Designed for iPhone and iPad Brothers in Arms 3: Sons of War could be great fun, but its plethora of freemium elements damage its chances.   | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.