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Competition to Drive Mobile NFC Payments to $240 Billion by 2021

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Report Summary:

Strategy Analytics has revised its forecast for global payments made via NFC enabled handsets upwards to almost $240 B by 2021, as strong competition between OEM branded digital wallets (Apple Pay, Samsung Pay, Android Pay, operators banks and retailers) combines with an increasing mature contactless payment acceptance infrastructure to drive consumer adoption and use of NFC-based payments. While convincing consumers of the benefits of mobile payment versus traditional payment forms will remain a challenge, Strategy Analytics expects the integration of use cases such as offers, loyalty, ticketing and bank related features, to help drive adoption

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