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Payments by NFC on the Rise Globally, Says Study
- Chain Store Age, Friday, December 19, 2014 12:14 PM
Payments made via near field communications (NFC)-enabled mobile handsets will account for $130 billion in worldwide consumer retail spend by 2020, according to a study by Strategy Analytics.
This equates to 254 million mobile users making five payments per month at an average of just below $9 per transaction.
The report "Global Mobile NFC Payments to Exceed $130 Billion
by 2020," quantifies the scale of the NFC-based mobile payment opportunity and identifies the launch of Apple Pay initiatives by payment networks to drive contactless payment acceptance among
retailers, and consumer demand for mobile payments, as three key catalysts for growth.
