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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Wednesday, June 5, 2013

Research Firm Flags Disappointing Adoption of NFC

In 2013, worldwide mobile payment transaction values will climb 44% to reach 235.4 billion US dollars, according to Gartner. It also predicts the number of mobile payment users worldwide will reach 245.2 million in 2013, up from 200.8 million in 2012. 
However, Gartner has reduced it estimates of the value of Near Field Communications-enabled transactions by more than 40% throughout the forecast period (2013-2017) "due to disappointing adoption of NFC technology in all markets in 2012 and the fact that some high-profile services, such as Google Wallet and Isis, are struggling to gain traction." Gartner forecasts that NFC will account for only about 2% of total mobile payment transaction value in 2013. 
Money transfers and merchandise purchases will account for about 71% and 21% of total transaction value in 2013, respectively, according to Gartner. source: Gartner statement
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