NFC tech driving shift from contactless card to device first approach
Summary
The study, conducted by ABI Research highlights the accelerating migration from physical to digital wallets, with more than 80% of those surveyed confirming that they have used a smartphone or smartwatch to make contactless payments. The study provides a renewed understanding of consumer adoption, familiarity, and experience with NFC technology at both a global and regional level, with 55% of respondents saying they would prefer to use their smartphone or smartwatch to make a payment rather than their card. Ninety-five percent of those surveyed have left their physical wallet or purse at home on at least one occasion, choosing instead to rely solely on mobile payments. “Daily use of mobile payment platforms is becoming increasingly common, with users citing the security, reliability, and convenience of digital solutions as core driving factors. We are now entering an end user perception step change whereby NFC is not just considered a payments technology, but a technology that can underpin a variety of different applications and use cases, such as the ability to tap to receive additional product information, for digital car and/or house key storage, use across brand protection or tap to register a product warranty to name but a few.” Mike McCamon, Executive Director of NFC Forum, adds: “NFC technology enables the creation of efficient, reliable, secure, environmentally-friendly, and smart solutions.