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It is widely believed that 2012 will prove to be the tipping point year for NFC mobile payments entering into the mainstream, alongside debit and credit cards. Industry experts interviewed for M for Mobile’s Near Field Communication Payments Report, expect NFC mobile penetration to grow 1400% in five years between 2015-2020.
In a consumer survey with over 3,000 participants from the UK and US, 37% of respondents said they need further information about NFC technology before they use it. Critically, more than half of consumers would transfer their main banking to an NFC Payments account if there was a financial incentive in the form of discounts.
The agreement from banks and credit card providers to raise the payment threshold from £15 to £20 from 1 June 2012 reinforces the findings from MforMobile’s executive research panel that the majority expect to see increased investment in NFC mobile provision from 2012 onwards, highlighting that we’re on the cusp of moving from niche to mainstream in the next 18 months.
To obtain your personal copy of this essential guide to NFC Payments 2012-13, please follow this link: http://bit.ly/NFCreport
Consumer Perception
Two thirds of consumers surveyed would adopt NFC mobile payments if they were better informed about the uses of the technology, alongside having the opportunity to do so. Importantly to note, well over half of the surveyed consumers would transfer their main banking to an NFC Payments account if there was a financial incentive in the form of discounts or rewards.
Being the first of its kind to address such a comprehensive perspective from the consumer, the report also analyses the consumer viewpoints on security concerns, mobile wallet adoption and the how consumers feel regarding managing their money, to give a clear directive on strategies for moving forward and encouraging mass adoption.
To obtain your personal copy of this essential guide to NFC Payments 2012-13, please follow this link: http://bit.ly/NFCreport
Market Overview
Apple’s influence continues to drive mobile development, with 75% of industry executives interviewed indicating that the launch of a rumoured NFC capable iPhone will cause a surge in uptake. However, there have already been pockets of NFC activity worldwide, with the ripest areas for NFC uptake being those with youthful, web savvy populations such as Turkey and Poland.
The report’s author not only walks a direct path through the levels of adoption at present, but also looks at emerging markets for NFC in developing countries such as Latin America, Middle East and Africa.
Joost Reijnen, Product Manager Mobile Solutions, Bell ID commented that “Although several new services like Square's 'cardcase' and the introduction of biometrics on mobiles may already have shown us what awaits after the mass adoption of NFC on mobile phones, today's emerging NFC and Secure Element ecosystems are already far more complex than the usual reports and news, may make you think it to be. Finally a report that touches beyond the surface and is able to […] help you to understand the dynamics, possibilities, separates fact from fiction, and really focus on what we all want to focus on: NFC payments”.
M for Mobile’s global report also examines how this diverse landscape has come to be, and whether industry concerns that it is too fragmented will have a bearing on its future potential. It presents the latest business intelligence, demonstrates a clear call to action from the target audience and provides tangible strategies that will speed up adoption and drive growth.
To obtain your personal copy of this essential guide to NFC Payments 2012-13, please follow this link: http://bit.ly/NFCreport
Contact:
Naomi Hands
Global Head Marketing
M for Mobile
naomi(at)mformobile(dot)com
+44 (0) 207 375 7513
Naomi Hands
Global Head Marketing
M for Mobile
naomi(at)mformobile(dot)com
+44 (0) 207 375 7513
