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Forecast: Contactless payments to reach $50B worldwide by 2014

08 июня 2011

Near Field Communications-based contactless payment transactions are expected to reach nearly $50 billion worldwide by 2014 according to a new forecast issued by Juniper Research.

Based on internal analysis, as well as interviews with industry players, Juniper anticipates NFC-based mobile payment services will launch in up to 20 international markets over the next 18 months, with North America and Western Europe together accounting for 50 percent of the worldwide market by 2014.

Juniper credits surging interest in mobile payments to the technology's potential to simplify lower-value payments as well as its potential to integrate additional retail solutions like coupons and promotional offers. Together these elements form a compelling consumer proposition that will help to drive transaction frequency and value. However, Juniper warns that even in the wake of recent vendor announcements, NFC devices are still far from mainstream--moreover, poor user experiences pose a significant implementation risk.

Mobile payment efforts in the U.S. market include Isis, the joint venture established by Verizon Wireless, AT&T and T-Mobile USA in late 2010, as well as Google Wallet, which aligns the digital services giant with U.S. network partner Sprint and financial services providers MasterCard, Citi and First Data to enable subscribers to purchase goods and redeem coupons and loyalty rewards via Android smartphones. Mobile payments solutions provider Square recently announced it now processes over $3 million in transactions a day, although its application relies on a smartphone dongle attachment, not NFC.

Источник: FierceMobileContent

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