With its new report on NFC Mobile Payment in the U.S., MarketResearch.com has added one more to its existing collection of E-Financial Services market reports.
Making an announcement to this effect, MarketResearch.com said that the NFC mobile payment in the U.S. was still fragile, with an adoption rate of only 1.7 percent.
However bleak this appeared, the positives were strong, for the low adoption rated represented a huge opportunity to those who were prepared to take the bull by the horns and cover ground by moving fast.
The possibility of new revenue channels consequent on such adoption was a particularly pleasing prospect for banks and for mobile operators.
Mobile operators, in particular were likely to benefit as more than 94 percent of the U.S. population owned a mobile phone and at least 60 percent of those had a card slot in their mobile phones.
The prospects for NFC technology appeared bright, with banks having the ability to tap micro cash transactions, which represented a healthy 20 percent of the total number of transactions in the U.S. this was a wonderful opportunity for banks to capture the growing GEN Y population and also tap the unbanked and underbanked population.
In 2009, the value of mobile payment transactions in the U.S. was $5.2 billion, constituting 6 percent of the global value of mobile payment transactions.
This is expected to reach $56.7 in 2015, growing at a CAGR of 49.19 percent, with the U.S. contributing to approximately 10.6 percent of the global mobile payment transaction
The report includes the market structure, region and size-wise segmentation of the U.S. payments market, market estimates for mobile payments, their value proposition, and the outlook. It also includes recommendations for deploying NFC based mobile payments.
Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.Edited by
Juliana Kenny