The Rise of Mobile Payments: NFC Transaction Market Set to Increase

Category: Payment Processing Technologies

Near Field Communications (NFC) has been able to grow rapidly because companies in the United States are upgrading their technology to comply with EMVCo standards, proving more support from merchants for NFC point-of-sale (POS) terminals. Research and Markets released a report on September 15 titled “Global NFC Transaction Market 2016-2020” which found that the NFC transaction market will likely grow from 2016 to 2020 at a Compound Annual Growth Rate (CAGR) of 55.23 percent.

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