Gartner Research

Mobile NFC Payments Demand Much More Than Cross-Industry Collaboration

Published: 22 January 2013

ID: G00239746

Analyst(s): Ethan Wang , Christophe Uzureau

Summary

Even in countries where cross-industry collaboration and standardization exist to drive NFC access, adoption and usage are poor. Investments in mobile NFC payments will fail if financial firms neglect customer attitudinal factors. Singapore and Hong Kong are currently experiencing this challenge.

Table Of Contents

Analysis

  • Mobile NFC Payments Are Overhyped
  • The Singaporean NFC Supply-Side Push
    • The Infocomm Development Authority of Singapore's (IDA's) Call for NFC Collaboration
    • Cross-Industry Collaboration Is Not Sufficient
    • Conclusions
  • The NFC Experiments in Hong Kong
    • The Hong Kong Monetary Authority's (HKMA's) Plan for a Future Retail Payment Infrastructure in 2013
    • Financial Firms and Merchants: Letting the Market Experiment First
    • The Success of Contactless Cards Does Not Guarantee the Success of NFC
    • Conclusions
  • Time to Run a Sanity Check on Your NFC Mobile Payment Investments

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