According to a report issued by Swedish analyst firm Berg Insight, the global installed base of NFC-ready POS terminals is set to grow at a compound annual growth rate (CAGR) of 49.4 percent from 3.9 million units in 2011 to 43.4 million units in 2017. This corresponds to an increase in the penetration rate from 8 percent in 2011 to 53 percent in 2017. The penetration rate is projected to be highest in North America, where an estimated 86 percent of the terminals are set to be NFC-ready by 2017. The penetration rate in Europe and the rest of the world is expected to reach 78 percent and 38 percent respectively.
Moreover, the report has found that the emergence of mobile wallet services is set to be the most significant development in the payments industry during the next few years. Furthermore, support for value-added services such as coupons, loyalty cards and daily deals will need to be integrated at the point of sales terminal to enable a seamless shopping experience for consumers.
Finally, the study has analyzed the use of mobile payments in market segments such as vending and parking. It appears that in the parking market a growing share of transactions are initiated from mobile devices instead of parking meters. This development is pushing major parking meter vendors to diversify into the pay-by-phone parking market.
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