81 per cent of mobile executives see NFC driving mobile payments: survey

81 per cent of mobile executives see NFC driving mobile payments: survey

Expects mass adoption to be two to five years away

Eighty-one per cent of mobile executives 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 mobile information vendor, Sybase 365.

The survey polled global mobile industry experts at the GSMA Mobile World Congress 2012, in Barcelona, aimed at uncovering growth projections within the mobile commerce market and trends such as the widespread adoption of NFC.

According to Sybase 365 president, John Sims, mobile payments are the leading topic of discussion in the mobile commerce ecosystem.

Twenty-six per cent of the survey respondents said mobile operators will be important catalysts driving global widespread adoption of mobile payments, 24 per cent believe that banks will be a leading driver and 19 per cent believe that companies such as Amazon, PayPal or Groupon will encourage adoption.

“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,” he said.

Another key finding from the survey highlighted that 38 per cent of the respondents believe consumer concern over security of personal financial information exchanged during mobile transactions is the leading obstacle to large-scale adoption of mobile payments.

The survey also found the need for coordination among key mobile commerce stakeholders and the development of mobile payment standards is equally important: 38 per cent of global survey respondents cited these two concerns.

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