Analysts have been forced to scale back forecasts for NFC transactions, blaming Apple’s omission of the technology
Apple’s decision to omit NFC from the iPhone 5 will hold back use the technology for retail payments by around two years, according to analysts Juniper Research.
According to the research, confidence in the technology has fallen among retailers which it expects to lead to fewer point of sale roll-outs in the coming years in Europe and the US.
The firm has now significantly lower its forecasts for the value of worldwide retail transactions using NFC from an estimated $180bn (£112bn) by 2017 to $110bn (£68.3bn).
Juniper Research principle analyst Windsor Holden said: “While many vendors have introduced NFC-enabled smartphones, Apple’s decision is a significant blow for the technology, particularly given its previous successes in educating the wider public about new mobile services.
“Without their support, it will be even more difficult to persuade consumers – and retailers – to embrace what amounts to a wholly new means of payment.”