Finextra: Contactless m-commerce fails to take offThe development of contactless mobile payments has failed to live up to expectations and the technology will account for just a fraction of the value of commerce transacted over cell phones this year, according to data from ABI Research.
The firm says the value of mobile commerce transacted via non-NFC methods - SMS, Internet and applications - will total $1.6 billion in 2009. In contrast contactless mobile commerce will be "minimal".
Dan Shey, practice director, ABI Research, says: "NFC is the 'holy grail' that provides the easiest user experience. Other methods require more work and expertise from the consumer."
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Finextra, Contactless, M-Commerce, NFC, HomeATM, PIN Payments Blog
