NFC Mobile Payments Not Mainstream for Another Two to Five Years

At this years MWC, Sybase 365 conducted its second annual survey of mobile executives. to uncover their thoughts on trends such as widespread adoption of NFC – and according to their findings, 81 per cent believe NFC wont become a driver of widespread adoption of mobile payments for at least another two to five years. Less than 10 per cent think NFC mobile payments will become mainstream within the next year.

“Mobile payments are arguably the leading topic of discussion in the mCommerce ecosystem,” says John Sims, president of Sybase 365. “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.”

38 per cent of respondents believe the main obstacle to mPayments development will be consumer concern over security of personal financial information exchanged during transactions, the survey also found.

And whose responsibility is it to drive mPayments into the mainstream? According to 26 per cent, mobile operators will be important catalysts in driving widespread adoption, while 24 per cent believe that banks will be a leading driver, and another 19 per cent think itll come down to companies like Amazon, PayPal or Groupon.