NFC Handsets Aid in Mobile Payment Growth

| September 10, 2013

Most smartphone manufacturers now have near-field communication (NFC)-enabled smartphones commercially available, making the technology the obvious choice for mobile payments and smartphone security, according to the latest report from Heavy Reading Insider, a subscription research service from Heavy Reading.
 
NFC Smartphones Underscore Growth in Mobile Payments examines the NFC mobile payments market, analyzing the most lucrative verticals for NFC mobile payments providers and discussing drivers and challenges in the industry. It includes a comparative analysis of solutions available, examines the geographic landscape of the market and details trends that will likely occur in the industry over the next 18-24 months.
 
For a list of companies covered in this report, click here.
 
As NFC continues to mature - probably within the next four to five years - the industry will move beyond simple card emulation.
 
Key findings of NFC Smartphones Underscore Growth in Mobile Payments include the following:
-- Although MNOs haven't yet fully embraced NFC, more than 285 million NFC-enabled mobile and electronic devices are expected to ship in 2013.
-- NFC has strong vertical market opportunities for implementing mobile payments, especially in segments dependent upon customer convenience.
-- For mobile NFC to succeed, manufacturers must make NFC-based technology a standard on mobile devices.
-- The deployment of the EMV chip payments infrastructure will support new ways to pay in the U.S., including the framework to support mobile payments.
-- The proliferation of competing initiatives in the NFC mobile payments market will eventually lead to market consolidation.

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