The NFC retail payments market will exceed $180 billion by 2017 with one in four mobile users in the U.S. and Western Europe expected to make NFC payments in-store.
This is the latest mobile payments industry forecast from Juniper Research. Of note, co-author Dr. Windsor Holden said, “This is a critical time for the NFC retail payments market. Despite the significant progress being made today, the full potential of the market can only be fulfilled if all ecosystem players are equally committed and mobile wallet consortia remain in place.”
American Banker, ComputerWeekly, FierceMobileContent and Mobile Payments Today and others have also emphasized that NFC has reached a tipping point but that commitment from the entire payments ecosystem is needed for mobile payments to flourish. You can read more about the Juniper Research report here.