Contactless Hardware/Software Spend May Hit $870 Million By 2011

The dollars spent on contactless payments hardware and software isn't going to be a huge market anytime, with ABI Research doubting the market will even break $900 million by 2011.

ABI projects that the total market will only be $870 million by that year, up from $260 million for 2006. It argues that the two adoption movers are proprietary transportation ticketing, and open credit, debit, and e-purse payments tied to financial service networks. There is a downside, though, with U.S. and European standards efforts for mobile payments delaying key rollouts.