More Than 80% of Mobile Executives See NFC Adoption a Few Years Away
More than eight out of 10 (81%) of mobile industry experts believe that near field communication (NFC) will not become a driver of widespread adoption of mobile payments for at least another two to five years, according to a survey by Sybase 365 at the GSMA Mobile World Congress 2012 in Barcelona. Less than 10% of survey respondents think NFC mobile payments will become mainstream within the next year.
Another key finding from the survey highlighted consumer perception of mobile payment security and how it will inhibit the growth of mobile payments. Thirty-eight percent of survey respondents believe that consumer concern over security of personal financial information exchanged during mobile transactions will be the leading obstacle to large-scale adoption of mobile payments.
“Mobile payments are arguably the leading topic of discussion in the mobile commerce ecosystem,” said John Sims, president, Sybase 365. “With our extensive global experience in innovative mobile commerce deployments, Sybase 365 has been defining consumer best practices and fostering acceptance of all mobile payment channels. As the ecosystem further develops and matures, we will continue to enable collaboration and communication between mobile operators, financial institutions, and enterprises to drive mass-market adoption of mobile payments.”
Equally important to facilitating the widespread adoption of mobile payments is the need for co-ordination among key mobile commerce stakeholders and the development of mobile payment standards. These two concerns were cited by 38% of global survey respondents. This finding echoes the sentiment from the 2011 Sybase 365 Mobile World Congress survey, which found that nearly half of survey respondents believe that industry standards and co-ordination would be responsible for driving mobile payments globally.
According to 26% of the survey respondents, mobile operators will be important catalysts driving global widespread adoption of mobile payments, while 24% believe that banks will be a leading driver, and another 19% believe that companies like Amazon, PayPal or Groupon will encourage great adoption. NFC technology will help facilitate the future growth of mobile payments, but successful and more established methods such as remote mobile payments are driving deployments and adoption within the ecosystem in both the emerging markets and developed world.