Apple Pay, The iPhone, And Near Field Communication Are Reinvigorating The Mobile Payments Industry

Mobile In StoreBIINFC has a real opportunity to power this boom

NFC is back.

A radio frequency called near field communication is at the heart of Apple Pay, the new system for using an iPhone to pay securely at stores, which launched October 20 in the US.

For years, NFC was thought to be a dead-end. But now, with Apple using it in the iPhone 6 and 6 Plus, it’s suddenly the preferred mobile payments tech.

In a new report from BI Intelligence, we take a look at why NFC is back. Apple Pay was the catalyst that NFC mobile payments were waiting for. But other developments on the consumer, merchant, and developer-side are also reinvigorating NFC.

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Here are some of the key takeaways:

In full, the report:

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