Mobile Payment Transactions To Reach $56.7B By 2015, NFC Adoption Stands At 1.7%

MarketResearch.com has published an in-depth report and analysis on the mobile payments and technology sector entitled “Mobile Payment – Advanced Technologies (NFC), Strategies And Future Of Remote & Proximity Payment In The U.S.” In it, the research firm details the technology associated with mobile payments — primarily NFC — which it says is in the …   Read More

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MarketResearch.com has published an in-depth report and analysis on the mobile payments and technology sector entitled “Mobile Payment – Advanced Technologies (NFC), Strategies And Future Of Remote & Proximity Payment In The U.S.”

In it, the research firm details the technology associated with mobile payments — primarily NFC — which it says is in the nascent stage with an adoption rate of only 1.7%.  With the help of NFC technology, banks will be able to tap micro transactions made by cash, representing around 20% of the total transactions in the U.S., according to the research.  This will also help banks to capture the growing GEN Y population as well as the huge underbanked and unbanked population.

Probably the most impressive statistic covered in the research is the estimate that mobile payment transactions in the U.S. will reach $56.7B in 2015, growing at a CAGR of 49.19%.  This is up substantially from the $5.2 billion in mobile payment transactions recorded in 2009, constituting just 6% of the total global value.  While this may be a liberal estimate, the value of mobile commerce transactions are set to explode in the very near future, this we definitely know is true.  While roadblocks remain, they’re being torn down rapidly, leaving consumer security the primary concern at this point.

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3 comments

  1. Conquer Marketing » Blog Archive » MobilePayUSA May Be More Lucrative For Businesses

    […] MobilePayUSA’s proprietors, is that it costs nothing for businesses to set up–unlike NFC (Near Field Communication) technology, for which merchants must buy special check-out registers at a cost of up to $500 per terminal. […]

  2. global payments

    Wow great post …….very important one for all………I really like it…….
    I also have the opinion that, For that you need to be first priority
    1. Security
    2. Convenience
    3. Easy to use

  3. Mobile Payments

    The growing prevalence of electronic commerce and the widespread use of mobile phones have made mobile payments an interesting alternative method of payment for customers and merchants alike. And apart from that if you are using this technology you need to be ensure about security,
    For that you need to be first priority
    1. Security
    2. Convenience
    3. Easy to use

    Great news

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