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01 Feb 2011
Near Field Communication (NFC) on smartphones will be the dominant system for mobile phone payments by 2015, according to Frost & Sullivan.
The analyst firm's NFC: When Will Be the Real Start? report predicts that NFC payment systems will be built into 53 per cent of global smartphones by 2015.
Frost & Sullivan suggested that traditional areas of conflict between mobile operators and banks have been broken down, and that the two industries are planning a co-ordinated push into NFC.
"Different secure elements for NFC methods have allowed different technology players in industries such as telecoms and electronic device manufacture to establish their own payment infrastructure," said Frost & Sullivan global programme director Jean-Noël Georges.
"This lack of harmonisation has been an obvious restraint for the NFC industry."
Mobile payments using NFC will reach €111bn by 2015, Georges predicted, with the EU making up over a third of that total.
Frost & Sullivan predicts a five-year compound annual growth rate for NFC systems of 118 per cent between 2010 and 2015.
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NFC versus Bluetooth
The NFC new technology has its flaws too. Although NFC can be used to configure Bluetooth like technologies, it is not faster enough to set up like Bluetooth low energy but sets up faster than standard Bluetooth. Present NFC technology data transfer rate is much slower than standard Bluetooth, where the data transfer rate of NFC stands at 424 kbit/s which is much slower than Bluetooth V 2.1 which stands at 2.1 Mbit/s. NFC generally requires low power similar to Bluetooth V 4.0 Low Energy protocol but NFC power consumption is greater than Bluetooth V 4.0 Low Energy with an unpowered device. Also the new technology introduced in the device may be vulnerable for eavesdropping, data modification, relay attack and when the mobile is lost. Bluetooth Special Interest Group (SIG): "Rollpay A New Way to Pay"
Posted by: Dee777 01 Feb 2011