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Near Field Communications market
17/07/08
A new analysis
of the NFC mobile payments opportunity forecasts that the gross
transaction value of payments made via NFC contactless technology,
for relatively low value purchases (such as refreshments, tickets
and food), will exceed $75bn globally by 2013.
In the second report in its Mobile Payment Markets series, Juniper
Research found that there is a significant opportunity for NFC
mobile payment services, chips, phones and supporting services as
the market reaches its tipping point over the 2011 to 2013 period.
The study explores how NFC will transform the mobile phone into a
mobile wallet payment tool that will be used by more and more
people, more and more often in future.
Report author Howard Wilcox said: "NFC will achieve traction
initially in developed countries and regions, with Japan already
leading the way with FeliCa-enabled phones. North America, Western
Europe and countries such as Korea, Singapore and Australia are
likely to see service take-up."
Highlights from the report include:
• Global annual gross transaction value will grow over 5 times
between 2011 and 2013
• 2009 will see limited numbers of NFC devices shipped (except in
the Far East & China region) but the market will begin to ramp up
from 2010 onwards and by 2013 20%, or 1 in 5 phones shipped, will
possess NFC capability.
• The top 3 regions (Far East & China, North America and W. Europe)
will represent nearly 90% of the $75bn p.a. market (by gross
transaction value) by 2013.
However, Howard Wilcox cautioned: “Whilst trial results so far have
been encouraging, the industry as a whole will need to convince both
consumers and merchants of the merits of yet another payment
mechanism on top of cash, cheques, credit and debit cards, and to
allay understandable (even if unfounded) fears and scepticism about
the security of The Mobile Wallet.”
The report provides six year regional forecasts of NFC mobile
payments for physical goods, providing data on device shipments,
subscriber take-up, transaction sizes and volumes as well as
detailed case studies from companies pioneering in this market.
Whitepapers and further details of the study, “Mobile Payment
Markets: Contactless NFC 2008-2013” can be freely downloaded from
www.juniperresearch.com.
Nick Gibson, editor
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