According to Juniper Research, the number of contactless transactions through mobile phones is expected to grow from three billion in 2014 to 9.9 billion in 2018.
The research firm states that going forward host card emulation (HCE) technology along with the expected launch of Apple iWallet will drive the number of contactless transactions. HCE will allow various industries such as banks to enable transaction for their customers without assistance from service providers.
Further, the number of contactless transactions will witness exponential growth with the introduction of iWallet by Apple in the fourth quarter of 2014. iWallet will enable secure contactless payment using bluetooth low energy. The research firm states that Apple?s debut into proximity payments would drive growth in the contactless space by increasing consumer awareness regarding contactless transactions through mobile phones. This in turn would further drive the uptake of near field communication-led transactions.
