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Cashless payments to boost NFC chip making
25 Oct 2011

Firms that specialise in the development of components that are used in near field communications (NFC) technology are set to see an industry boom.

Researchers at In-Stat have suggested that 375 million people will use NFC devices for cashless payment purposes by 2015.

With this in mind, the organisation has predicted that 1.2 billion chipsets will be shipped by this point.

Research director at In-Stat Allen Nogee believes the mass uptake of the technology will eventually lead to chips being mass produced for lower prices, which could encourage even more firms to manufacture NFC systems.

"As the costs of NFC chips decline, and NFC radios are combined with other chip functions, the cost to integrate NFC into handsets will be outweighed by the benefits," he commented.

Juniper Research recently predicted that the value of mobile payments being made by 2015 would exceed $170 billion (£110 billion). This, the organisation added, is triple the forecast for 2011.