Business Line publishes Ditch plastic, NFC is taking over

“According to a Yankee Group report, mobile payment is expected to increase to $1 trillion by 2015 from the current $241 billion – a CAGR of a whopping 56 per cent. That comes as no surprise considering the amount of buzz created by different technologies trying to garner market share in the mobile payment business – from simple SMS-based payments to mobile web payments to the emerging NFC (Near Field Communication). Globally, NFC-based mobile payment is expected to reach $50 billion by 2014.”