Juniper Research: Global mobile contactless transactions are expected to reach more than 9.9 billion in 2018

Juniper Research, a market research firm, reports that the number of global mobile contactless transactions will grow from 3 billion in 2014 to more than 9.9 billion in 2018.

Juniper found that host card emulation (HCE) and Apple's upcoming fingerprint wallet (iWallet) will promote the growth of mobile contactless transactions in the medium term. The report said that the use of remote, host card emulation secure elements can shorten the time to market for products, which also means that banks can retain control over their customers without having to cooperate with mobile network operators. In addition, the recent decision by Visa and MasterCard to support host card emulation services will also eliminate banks' concerns about transaction security issues.

The report believes that Apple's entry into the near-end payment field will increase consumers' awareness of contactless payments, indirectly promote the development of near-field communication (NFC), and promote the growth of contactless transactions on a larger scale. However, the report warns that although these factors will promote the development of the entire industry, network operators may be eliminated. The author of the report, Dr. Windsor Horton, said that the position of operators, who were originally at the core of the near-field communication value chain, will be shaken and their role will no longer be sacred and inviolable. Finally, the opportunities left for operators will be significantly reduced, and banks will take over and lead the way.