New forecasts from Juniper Research show that about 52 million consumers will adopt new mobile technologies such as NFC (near field communication) and other physical mobile payment methods to pay for services by 2011.
This will help drive the physical mobile payments market to $11.5 billion by the same year, Juniper said.
NFC and other physical mobile payments methods will begin to offer consumers a viable alternative both to cash, credit and debit cards supporting their increasingly mobile lifestyles.
The study found that by 2011, around 12 percent of the mobile phones in circulation will offer support for contactless payment, specifically NFC - equating to nearly 470 million NFC-enabled handsets worldwide.
Juniper Research www.juniperresearch.com
