One in four consumers to pay using NFC by 2017

"Rapid market expansion from 2012 onwards”

More than one in four consumers in the US and Western Europe will pay for goods in-store using an NFC-enabled mobile device, according to a new study by Juniper Research. The figure is up from just 2% of consumers in those areas this year and indicates an impending boom in NFC-based mobile payments, which is considered by many analysts to become the standard in mobile-based commerce. The research firm argues that NFC is now approaching the public’s consciousness with initiatives such as Google Wallet and mobile payment joint ventures such as Isis, and Juniper says it expects “a rapid market expansion from 2012 onwards”.

Some 100 million NFC-enabled smartphones are expected to be sold this year, according to research from Berg Insight in March, more than three times the 30 million units sold in 2011. Overall, global mobile payments revenues are expected to top USD171.5 billion this year, according to a forecast from Gartner this week, as consumers become more comfortable with paying for goods and services via their smartphone.

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