Global mobile payment growth rate of 44% NFC payment technology accounts for only 2% [Full text]
Shijiazhuang Naipu Pump Co., Ltd. , https://www.naipu-pump.com
July 30 21:00:29, 2025
Despite the massive growth and widespread adoption of mobile payment systems, NFC-based electronic wallet transactions only account for 2% of total transaction volume this year. Industry experts point to limited consumer access to NFC services like Google Wallet and Isis as a key barrier to broader adoption.
According to a recent report from Gartner, global mobile payment transactions are expected to reach $235.4 billion in 2013, up 44% from $163.1 billion in 2012. Of that, mobile transfers—such as peer-to-peer or bank-to-bank transactions—will make up 71% of all mobile payments. Meanwhile, NFC technology, once seen as the future of mobile commerce, remains a small fraction at just 2%.
Interestingly, Gartner has revised its expectations for NFC transactions downward. By the end of 2017, it now forecasts that NFC will account for only 5% of all mobile payments, a 40% reduction from earlier projections.
Apple has long been rumored to be integrating an NFC chip into its iPhones, but the company has yet to fully embrace the technology. Many industry insiders believe security concerns are the primary reason behind Apple’s hesitation.
In contrast, Apple introduced Passbook last year—a feature that allows users to store loyalty cards, coupons, boarding passes, and tickets. Some analysts think this could be a step toward a full-fledged digital wallet, though Apple has not officially launched such a service.
While NFC remains a niche technology, mobile transfers are expected to continue dominating the market. By 2017, they are projected to still hold 69% of the mobile payment landscape. These transactions are typically more cost-effective than traditional banking methods.
Gartner also noted that mobile shopping will account for 21% of all mobile payments in 2013. However, the slow growth in this area is attributed to the suboptimal user experience on mobile devices.
On the other hand, mobile bill payments are expected to grow rapidly in 2013, with a projected 44% increase. As more consumers in developed countries turn to mobile banking for utility and subscription payments, Gartner predicts that bill payments will represent 5% of all mobile transactions by 2017.
Sandy Shen, a Gartner analyst, said: “We expect global mobile transaction volumes to grow at an average of 35% between 2012 and 2017, reaching $721 billion by 2017, with over 450 million users. However, slower-than-expected growth in 2012, especially in North America and Africa, has led us to revise our overall forecast.â€