Contactless Commerce Infrastructure and Services Spending to Reach $800 Million by 2011, According to ABI Research.LONDON -- Spending on the contactless hardware, software, and services market will reach $800 million by 2011, up from just $260 million in 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new report published by ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother. (Application Binary Interface) A specification for a specific hardware platform combined with the operating system. Research. Because they speed retail payments and public transportation, contactless payment Contactless payment systems are credit cards, key fobs, or other devices which use RFID for making secure payments. The built in chip and antenna enable consumers to wave their card or fob over a reader at the point of sale. deployments are quickly expanding around the world. But these two largest contactless applications remain mostly separate, limiting the uptake of contactless cards and delaying the transition of contactless payment technologies into mobile phones. "The benefits of contactless ticketing and payments have already been experienced in deployments and test trials around the globe, but a common infrastructure will fuel more rapid adoption," says Jonathan Collins, senior analyst at ABI Research. Proprietary transportation ticketing, and open credit, debit, and e-purse payments tied to financial service networks are the primary drivers for contactless transactions. Contactless transportation ticketing dominated spending on contactless hardware, software and services in 2006, accounting for more than four times the expenditure in the banking market; however, by 2011 card issuers and other financial groups will be spending three times as much as transportation providers. Both technology and business issues must be resolved before a single contactless infrastructure can be leveraged by card issuers and the emerging mobile phone contactless payment market. Contactless commerce uptake is taking place at varying rates across regions, national markets, and market segments, as contactless payments are added to existing payment networks and environments. In North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , open system payments are driving contactless adoption, whereas in Europe contactless ticketing systems are the primary drivers. "Already in both North America and Europe trial work is underway to allow bank-issued contactless payment cards to interoperate with contactless transportation systems, but significant work remains to be done," says Collins. It is in Japan and South Korea that contactless technology is making the greatest headway head·way n. 1. Forward movement or the rate of forward movement, especially of a ship. 2. Progress toward a goal. 3. The clear vertical space beneath a ceiling or archway; clearance. 4. , in part because contactless payments have been built on the foundations of contactless transportation ticketing with a large degree of interoperability between the two payment environments - albeit within the non-standards-based environment of Sony's FeliCa system. Those issues are studied in "RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. Contactless Payments" (http://www.abiresearch.com/products/market_research/RFID_ Contactless_Payments) (Due to its length, this URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.), an ABI Research report that examines the trends driving contactless payment adoption, regional deployment patterns, the value of the market, and the business and technological issues that still have to be resolved. It includes analysis of contactless payment adoption in a selection of key merchant categories and applications. It forms part of the annual Mobile and Contactless Payments Research Service (http://www.abiresearch.com/products/service/Contactless_Commerce _Research_Service) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.). 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It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. supporting annual research programs, intelligence services and market reports in broadband and multimedia, RFID & contactless, M2M M2M Machine-to-Machine (communication, mainly mobile) M2M Minutes to Midnight (Linkin Park album) M2M Mobile to Mobile (cellular phone) M2M Member-to-Member M2M Month to Month , wireless connectivity, mobile wireless, transportation, and emerging technologies. For information visit www.abiresearch.com, or call +1.516.624.2500. |
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