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Contactless methods 'could revolutionise payments'
11 Aug 2011

Using emoney through contactless payment methods could revolutionise the way people purchase items, it has been suggested.

Global operations company ABI Research has predicted that the complete adoption of the efficient system could dramatically reduce queuing time for shoppers.

The forecast emerges following the release of Google Wallet and the high number of near field communication-enabled (NFC) smartphones currently in circulation.

As a result of these developments, the organisation believes that 85 per cent of internationally shipped terminals will allow contactless payments by 2016.

Senior analyst Craig Foster said: "The increased speed [of the payment method] and simplicity of check-out go hand-in-hand with the very essence of the vending machine - to provide goods quickly and conveniently."

According to Electronics Weekly, signal designer Texas Instruments has claimed its latest NFC transceiver could extend the battery life of contactless devices.

This comes amid fears that new lower power outlets could threaten the use of the technology for the majority of transactions.