Juniper Says NFC Will Drive $74 Billion in Transactions by 2015

On Friday, Juniper Research published its latest report projecting that NFC will drive mCommerce to new heights during the next 36 months. Juniper forecasts that NFC will facilitate $74 billion in transactions annually by 2015. This reality will manifest, says Juniper, as NFC becomes increasingly more relied upon by consumers. However, as Juniper takes great …   Read More

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On Friday, Juniper Research published its latest report projecting that NFC will drive mCommerce to new heights during the next 36 months.

Juniper forecasts that NFC will facilitate $74 billion in transactions annually by 2015. This reality will manifest, says Juniper, as NFC becomes increasingly more relied upon by consumers.

However, as Juniper takes great care to emphasize, “The Mobile Commerce Markets report shows that the rapid adoption of mobile devices for commerce-related applications is by no means limited to NFC.”

All segments – money transfers, banking, payments and coupons – are forecast to exhibit significant growth rates, Juniper says.

“Our report demonstrates the spectacular growth we see across all segments of the mobile commerce market,” writes report author David Snow.

Only one potential hitch stands between mCommerce and this projected growth: lingering consumer worries about the security of mobile payments and NFC-related technologies and platforms.

“Mobile commerce providers need to keep security issues in mind,” Juniper says. “Even if there is a perceived, if not actual, security risk in the mind of users, not only the specific mobile commerce application, but also the whole mobile commerce market may be set back until user trust is recovered.”

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