NFC replaces cash by 2016
A report by Forrester and PayPal predicts that payments using mobile phones will replace cash by 2016, ABI Research predicts that Google’s step into Near Field Communication – NFC – with their recent launch of Google Wallet will drive adoption by the end of 2012, with global adoption in 2014, far sooner than the 2016 predicted by Forrester and PayPal. They also predict that the NFC chip would store the “user’s banking and personal details – making it redundant to carry ID cards, cash or credit cards.”
With Acer Inc, better known for it’s laptops, planning to launch a NFC enabled phone next year, and Apple rumoured to be launching NFC capabilities in their iPhone5, I can really see that happening. Andy Lees, president of Windows Phone, said at the AsiaD conference last month that consumers can expect NFC-equipped iPhones and Windows Phone 7 devices in 2012.
Added to that the recent announcement 45 globally operating mobile phone operators pledging their support for the GSMA NFC implementation, including China Mobile, Vodafone Group, América Móvil, Telefónica Group, China Unicom, Axiata, Bharti Airtel, Deutsche Telekom, Verizon Wireless, and AT&T.