NFC Payments Projected to Hit $10 Billion

The global market for Near Field Communications (NFC) payments is expected to reach $10 billion globally by 2016, according to new data from Markets and Markets. "NFC is expected to see a significant amount of its growth continue to come from the mobile commerce sector, where the technology is used to power transactions," according to Mobile Commerce News. However, NFC is losing some popularity in the mobile sector because of security concerns and the availability of alternatives that some businesses consider more viable for mobile payments. Story