The market for NFC (Near Field Communication) mobile payments in the U.S. is in the nascent stage with an adoption rate of only 1.7%; this represents a huge opportunity for early movers offering the same. Adopting NFC mobile payment will open new revenue channels for banks as well as mobile operators as more than 94% of the U.S. population owns a mobile phone, and 60% of these have a card slot in their mobile phone. With the help of NFC technology, banks will be able to tap micro transactions made by cash, representing around 20% of the total transactions in the U.S. This will also help banks to capture the growing GEN Y population as well as the huge underbanked and unbanked population.

In 2009, the value of mobile payment transactions in the U.S. was $5.2 billion, constituting 6% of the global value of mobile payment transactions; this is expected to reach $56.7 in 2015, growing at a CAGR of 49.19%. The share of U.S in 2015 will reach approximately 10.6% of the global mobile payment transaction.

The objective of this report is to access the current and potential market for mobile payments in terms of size, volume and users in the U.S. as well as globally. The report will allow market players to benchmark their strategies for contactless mobile payments against that of their peers. The vendor analysis and benchmarking chapter of this report will help banks to choose the best vendor for providing NFC mobile payments to their customers. The report will help banks to examine recent developments in mobile payments adopted by various vendors to increase the adoption of mobile payments in the U.S.

The agenda for the briefing includes discussion on the factors which are giving traction to the adoption of NFC mobile payments in the U.S. and the factors which are restraining the adoption. The briefing also covers discussion on the business models for deploying NFC mobile payments in the U.S.

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