NFC Technology Driving Shift From Contactless Card to Device First Approach – ABI Research

NFC Forum has announced the publication of its bi-annual Near Field Communication (NFC) Usage and Adoption Study. The study, conducted by ABI Research highlights the accelerating migration from physical to digital wallets, with more that 80% of those surveyed confirming that they have used a smartphone or smartwatch to make contactless payments. Security, convenience and future digital wallet innovations cement the growing trend towards device first approaches.

For the first time ever, the study found that the majority of consumers prefer to use their mobile phone or wearable to pay over a contactless card. Additionally, when compared to other payment options including contactless cards, QR Codes, and cash, consumers rated NFC contactless as the most secure, most convenient, most reliable, and easiest way to pay in-person.

The study provides a renewed understanding of consumer adoption, familiarity, and experience with NFC technology at both a global and regional level, with 55% of respondents saying they would prefer to use their smartphone or smartwatch to make a payment rather than their card. 95% of those surveyed have left their physical wallet or purse at home on at least one occasion, choosing instead to rely solely on mobile payments. 53% confirmed they do so multiple times each week.