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.