Study: mPayments Soars While NFC Flatlines

Technology research provider Gartner says more than 245 million consumers will spend $235 billion through mpayment transactions over the course of 2013. This marks an increase in both statistics from the previous year, Finextra reported.

“With annual growth of 35 percent, by 2017 transaction values should hit $721 billion and user numbers 450 million people, although this is lower than Gartner had previously expected,” Finextra said.

By comparison, Gartner revised its expectations for NFC transactions. It now projects $22 billion in transactions via NFC to take place in 2016, down from $38 billion.

Read the full report here.

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