NFC Mobile Payments Disappoint While Money Transfers Boom
Mobile payment growth has been curtailed worldwide by sluggish NFC adoption, while mobile money transfer is thriving and will continue to expand through 2017, according to a new Gartner report. Gartner projects that NFC will comprise just about 2 percent of total mobile payment transaction value this year and 5 percent in 2017. In contrast, mobile money transfers are expected to account for 69 percent of total global mobile payment transaction value in 2017. Worldwide mobile payment transaction values will reach $235.4 billion in 2013 and grow to $721 billion by 2017. Gartner notes that although the per transaction value of mobile money transfers is expected to be low, the segment will grow enormously because of high volume of usage.
From “NFC Mobile Payments Disappoint While Money Transfers Boom”
CNet (06/04/13) Reardon, Marguerite