NFC payments still needs time to penetrate markets

A new new report issued by Garter says that in the developed world despite the massive media presence and the pilot project rolled out in the moment, it will take at least another four years until NFC payments really reaches the markets. The big issues here are the complexity of the services models and the user behaviour. Time is needed to adopt the user to pay via mobile phone instead of using credit cards. As reported earlier this week on also some new business models for ecommerce application of NFC need to be developed.

Also the mobile payments in general are not growing so fast as some predicted. Despite a huge growth from $48.9 billion in 2010 to $86.1 in 2011 the figures are not as high as predicted earlier.

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