Contactless Mobile Pay Transactions Seen Nearing 10B by 2016

Research firm NPD In-Stat is projecting that by 2016, the number of payments made with a swipe of a mobile device will approach 9.9 billion, a nine-fold increase from the estimated 1.1 billion in contactless mobile payments expected to be transacted in 2012. “Based on the vast support for near-field communication and the endorsements made by significant players in 2011, it is apparent that this will be the dominant contactless payment solution going forward,” said Amy Cravens, senior analyst at NPD. “However, there continues to be a great deal of support behind barcode-based payments as well (mFoundry and Starbucks, PayPal, and Home Depot), indicating that these types of solutions will continue to be supported in the coming years.”

From “Contactless Mobile Pay Transactions Seen Nearing 10B by 2016”
American Banker (03/07/12) Crosman, Penny

Posted on March 7, 2012 at 11:49 No comments

Categories: 2D Codes, NFC / Contactless, Proximity Payments

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