Tag: nfc devices

NFC-based mobile payments are growing quickly

New study shows that NFC payments are becoming more common among consumers in the retail sector

NFC-based mobile payments are on the rise throughout the world, according to a new study from Strategy Analytics. The study highlights the growing adoption and availability of NFC-enabled mobile devices. These devices are equipped with NFC chips, which allow them to engage with interactive marketing materials, share digital information from one device to another, and participate in mobile commerce. As these devices become more plentiful among consumers, people are using them to shop online and purchase products from physical stores.

Study predicts that NFC-based mobile payments will represent $130 billion in global spending by 2020

The study shows that NFC-based mobile payments will account for $130 billion in global consumer retail spending by 2020. This is roughly similar to 254 million mobile consumers making as many as five mobile payments every month of $9 or less. The growing availability of NFC-enabled mobile devices and services is powering this growth in the mobile commerce field. One of the latest services to launch, Apple Pay, is having a profound impact on the growth of NFC-based payments.

Apple Pay helps promote mobile spending through NFC technology

Mobile Payments - NFCApple Pay was launched at the end of October this year, and has since become a prominent payment platform among iOS users. The service launched with the support of a wide range of retail partners, many of whom also adopted mobile point-of-sale systems to accommodate the growing number of those paying for products with their mobile devices. Services like Apple Pay are expected to continue powering the growth of the mobile payments field.

Some retailers are unconvinced of the value of NFC technology

Retailers have been relatively slow to embrace NFC technology. The cost of adopting NFC-enabled point-of-sale systems is often seen as too high for some retailers, while others are not yet convinced that mobile commerce is anything but a passing trend. As NFC devices become more popular among consumers, these retailers may change their minds and begin supporting mobile commerce more aggressively.

NFC technology expected to become more common in coming years


NFC technology poised for market boom

NFC technology is becomiNFC Technology Growthng more commonplace as consumers become more comfortable with the services it can provide. The technology is well known for its use in mobile commerce, wherein it is able to facilitate mobile payments from smart phones for physical products. The technology also has uses in marketing and information distribution and is quickly becoming an ideal way for companies to stay engaged with mobile consumers. Despite the growing popularity of NFC technology, relatively few consumers can engage in the services it provides because of the lack of NFC-enabled mobile devices.

NFC-enabled devices currently in low supply

In order for consumers to make use of NFC-based services, they must have a device that is equipped with an NFC chip. This chip allows a device to interface with a payments terminal, NFC tag, or other service that relies on the technology. Currently, the availability of NFC-enabled mobile devices is low, with the majority of such devices encompassed in the Android platform. The iOS platform does not support NFC technology despite growing demand coming from consumers. The lack of NFC-enabled devices has made it difficult for mobile commerce and other NFC-based services to gain traction with consumers.

ABI Research predicts 2 billion NFC-enabled devices by 2017

According to ABI Research, the availability of NFC-enabled mobile devices is expected to grow exponentially over the next few years. This is due to telecommunications and technology companies heeding the demands coming from consumers and working to meet their needs. The research firm expects more than 2 billion smart phones will be equipped with NFC technology by 2017. Shipments of NFC-enabled devices are expected to pick up as well as these products exit their trail phase and companies deem them commercially viable.

New devices expected to make NFC technology more familiar with consumers

With the availability of NFC-enabled devices on the rise, more consumers are expected to gain access to the wide array of NFC-based services that are being offered to them. There may be some challenges that companies and consumers will have to overcome, especially in the realm of mobile commerce, but NFC technology is expected to become a staple of mobile technology and service in the near future.