From a morsel to a monster in the world of mobile, near field communications technology is growing at a breath-taking pace.
Juniper Research says in its newest report that 1 in 4 of U.S. and Western European mobile phone users will use an NFC-enabled mobile phone to purchase items in stores by 2017.
This year, that percentage will be lucky to reach 2%.
Worldwide, more and more NFC payment pilots are being launched and transitioning to full commercial service being spearheaded by both mobile network operators and financial institutions.
The report warns, however, that NFC retail payments services must be deployed with a fully integrated and tested customer care channel.
“NFC retail payments are still at an early stage, but hold great promise,” writes report co-author Dr. Windsor Holden. “In 2011 we saw significant strides made within the ecosystem such as the launch of Google Wallet, the announcements of more mobile wallet consortia and the supply of an increasing number of NFC-enabled smartphone models. NFC is now impacting the public consciousness and we expect a rapid market expansion from 2012 onwards.”
The ‘NFC Mobile Payments ~ No Contact Required’ whitepaper is now available to download at no charge from Juniper.