News about Forecast.
May 27th, 2016
One in four British consumers intend to use their mobile phone to make NFC-based mobile payments in the next 12 months, according to research from MasterCard. One in 20 are already making NFC mobile payments once…
May 26th, 2016
Almost 1.6bn coupons will be delivered annually to consumers via Bluetooth Low Energy (BLE) beacon technology by 2020, Juniper Research forecasts. “This is up from just 11m this year, as retailers seek to develop proximity marketing campaigns in and around their stores,” the firm says. “Spend on digital retail marketing is set to increase from US$174bn in 2015, to $362.1bn by 2020.”
May 25th, 2016
Apple Pay will experience greater success than Android Pay and will “grow exceptionally based on a belief that Apple Pay using a Secure Enclave/secure element inside of iOS has an advantage over Android Pay’s host card emulation (HCE) in that it’s more secure, with a similar user experience,” according to Piper Jaffray analyst Gene Munster. “We believe that Apple Pay will offer the most seamless payment experience on iOS regardless of whether its in-app, in-browser or in-store,” Barron’s reports Munster as saying.
May 23rd, 2016
The average UK adult made 20 card payments per month in 2015, of which around one in 10 were contactless, research released by Payments UK reveals. “By 2025, we are predicted to use a debit, credit or charge card virtually every day and almost half of these transactions, 14 per month, will be contactless,” the organisation says. “Many of these payments may be made using a mobile phone.” Payments UK also predicts that by 2025, cash will only be used for 27% of payments.
May 12th, 2016
The Bluetooth Low Energy (BLE) beacon market will more than double in 2016, remaining on track to break 400m shipments by 2021, ABI Research forecasts. “Beacons are also going to have an effect on mobile advertising,” the firm says. “The dedicated beacon advertising market will grow strongly, but collaboration and aggregation of networks will also be a developing trend in 2016.”
May 4th, 2016
Digital payments across Australia, including those made with a mobile device at the point of sale, will be worth A$1.897bn (US$ 1.42bn) by 2020, Frost & Sullivan predicts. “Mobile payments are expected to take off in 12-18 months,” says the firm’s Saranga Sudarshan. “Apple Pay and Android Pay will revolutionise this market. Smartphone prevalence facilitates a high adoption rate for a more convenient and secure form of paying, compared to physical cards or cash.”
April 26th, 2016
Worldwide spending on Internet of Things (IoT) security will reach US$348m in 2016, a 23.7% increase from 2015 spending of $281.5m, Gartner predicts. “Spending on IoT security is expected to reach $547m in 2018,” the firm says. “Gartner predicts that IoT security market spending will increase at a faster rate after 2020.”
April 19th, 2016
Almost 23bn transport and events tickets will be purchased globally using mobile devices by 2020, Juniper Research predicts, more than double the volume expected this year. “With a number of transport agencies enhancing app capabilities and integrating new payment services such as Apple Pay, the past 12 months have witnessed an increase in mobile ticketing users using apps for payments as well as ticket delivery and validation,” the firm says.
April 19th, 2016
UK retailer The Co-Op has predicted that 65% of all transactions at its supermarkets and convenience stores will be made using mobile phones by 2025. The forecast follows research released by the company which shows that almost 11m contactless transactions now take place at its 2,800 locations every month.
April 14th, 2016
The number of cashless transactions at Hungarian festivals will reach 7m this year, representing an increase of 27% compared to last year’s 5.5m, research from Festipay predicts. “In 2015, the most frequently visited Hungarian festivals were 90% cashless,” the payment solutions provider says. “This year, Festipay electronic payment solutions will be used at as much as 18 festivals.”
April 12th, 2016
Nearly nine in ten US merchants using ShopKeep technology (87%) have seen little-to-no adoption of mobile payments at their business in the past six months, research released by the POS system provider reveals. “Despite these findings, 59% of small businesses still predict that, in the next two years, 50% of consumers will be using mobile payments such as Apple Pay as their primary payment method,” ShopKeep adds.
April 11th, 2016
The number of mobile wallet transactions across Europe will increase at a compound annual growth rate (CAGR) of 61.8% from 2016 to 2021, Smart Insights predicts. “The total mWallet revenue for the payments industry is forecasted to experience a CAGR of 50% over the 2016-2021 period, surpassing the €1bn bar by 2021,” the firm adds.
April 11th, 2016
More than a third (38%) of all payments made across Europe will be digital by 2020, MasterCard predicts. The payment network’s MasterCard Digital Enablement Service (MDES) is now in progress in 18 European countries and already connects banks representing more than 70% of UK account holders to Apple Pay, the company adds.
April 11th, 2016
The global value of NFC mobile and wearable payments is expected to reach US$95bn annually by 2018, up from less than $35bn last year, according to Juniper Research. “Apple’s entry into NFC gave the industry a much needed boost and could well be seen as the tipping point for the technology,” says the firm’s Nitin Bhas.
March 29th, 2016
More than one third of Americans (36%) don’t feel a need for mobile payment apps, compared to 12% of Mexicans and 13% of Chileans, according to mobile banking service Fintonic. 23% of Americans don’t trust the technology, compared to 4% of Mexicans and 6% of Chileans. “Latin American countries such as Chile and Mexico are much more willing to embrace technological advancements in banking like mobile wallets,” the company says.
March 23rd, 2016
The global biometrics market will reach more than US$30bn by 2021, representing a 118% increase from 2015, according to a new forecast from ABI Research. “Consumer electronics, particularly smartphones, continue to boost the biometrics market, with embedded fingerprint sensors anticipated to reach two billion shipments by 2021, at a 40% compound annual growth rate (CAGR),” the firm says.
March 21st, 2016
Consumers will spend more than US$3.6trn using online, mobile and contactless payments services this year, up 20% from US$3trn in 2015, according to Juniper Research. “While cards will account for 90% of contactless payments over the next five years, the deployment of NFC payments by high-profile players such as Apple and Samsung would increase consumer awareness and usage of smartphones to fulfil transactions,” the firm says.
March 18th, 2016
Seven in ten consumers (70%) believe that 2030 will be the year that mobile payments become secure enough for traditional payment methods such as cash and cards to no longer be required, the IEEE’s Global Cyber-security Survey has found. The biggest concerns with mobile payments today are payment information hacks (46%), unauthorized payments processed by a mobile payment provider (33%) and accidental payments made via NFC or QR codes (13%).
March 11th, 2016
More than 90% of British, German and Spanish business leaders interviewed for a survey of attitudes to contactless technology have already invested in contactless projects and expect that 10% of all transactions will be contactless within the next three years, a white paper now available to download from the NFC World+ Knowledge Centre reveals.
March 10th, 2016
More than 100m people around the world will use an NFC handset to make a purchase this year, according to a new report from Strategy Analytics, and the value of transactions conducted via NFC handsets will grow from US$30bn in 2016 to US$240bn in 2021.