Juniper: NFC Payments To Reach $74 Billion Worldwide By 2015

As we heard last week, Isis, the carrier-led joint venture between AT&T, T-Mobile and Verizon, is picking up steam in the NFC world to make these payments a reality. And we know Google has made a big bet on NFC as a payments technology. But it's still unclear whether NFC (near field communication), which allows devices to exchange data over short distances with a wave or a tap, will become a major force. But Juniper seems optimistic that NFC payments will become a huge market in the payments world forecasting that global NFC mobile contactless payment transactions will reach nearly $74 billion worldwide by 2015. Juniper contends that NFC is increasingly being used for the payment of goods in-store and as transport tickets; and is already over triple the expectation for 2011. Additionally, the firm says that the use of mobile devices as an alternative to credit cards and paper tickets is one of the fastest growing segments of the mobile commerce market.

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