NFC mobile payments 2 – 5 years out says survey

A survey carried out at MWC by mobile commerce and messaging specialist Sybase 365 has found that 81 per cent of mobile industry executives believe that NFC will not emerge as a driver for mass adoption of mobile payment services for another two to five years. Less than ten per cent of delegates polled said they believed that NFC payments would become mainstream in the next year.

Mobile payment was one of the hot topics for MWC 2012, and a wide range of initiatives from the relevant sectors are now coming to fruition.  But there is still a need for consumer education around the convenience and benefits of  mobile payment offerings, Sybase365 found.

The firm said that 38 per cent of respondents believed that consumer concern over the security of personal financial information exchanged during mobile transactions will represent the most significant barrier to widespread adoption of mobile payments.

The same number expressed concerns around the development of standards and the need for collaboration between the different stakeholders in the mobile payment ecosystem.

“Material advances for mobile payments will only come about when banks, operators and retailers can converge on a business model, and with it true industry interoperability, leading to a widely embraced mobile payments system,” said John Sims, president of Sybase 365. and Mobile Communications International will be running a special focus on Mobile Financial Services in April. To get involved tweet us at @TelecomsHibberd, @TelecomsJames and @TelecomsSahota or email us at [email protected]

One comment

  1. Avatar Hamish 09/03/2012 @ 2:55 pm

    Finally some research data around NFC mobile payments that backs up the argument this as a payment medium is years off. I used paywave for the first time the other day, and leave aside that it was the first time I had seen it available in store, the sales guy and myself had little idea what we were doing which left the sales process clunky at best. Security is one barrier but education and even more so the ecosystem and merchant side terminal are huge barriers to overcome before this becomes mainstream IMO, my tip is 5-7 years before we see it mainstream.

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