10 NFC Facts You Need To Know for 2020

by Faye Pooley on February 02, 2020

Just in case you hadn’t heard already; NFC is set to completely take over in 2020. The smart marketers and big businesses are already utilising NFC in their campaigns, and you should be ready to do the same. 

Whether you’re already on the NFC train, or if for some reason you’re yet to be convinced; here are 10 NFC facts that everyone needs to know for 2020! 

All of the following have been taken from statista.com

    1.  At the end of 2019, there were 2 billion NFC-enabled devices in use. Including mobile and other devices. NFC being the driving force behind mobile payments has played a huge part in this. 

    2. There were 277 million NFC-enabled devices worldwide in 2014. Almost 8x growth in 5 years. Popular opinion says this will likely double again in the next 5 years.

    3.   80% of global connections will be made using a smartphone by 2025. It shouldn’t be much of a surprise that the vast majority of connections will be through a smart phone in the next 5 years. As NFC is now a staple in new phones, this is set to grow alongside it. 

    4. The Mobile industry is set to contribute $4.8 trillion to world GDP by 2023. Pushed through by 7 billion smartphone subscriptions, with NFC as a key enabler. 

    5. In 2019, the number of mobile contactless payment users was 0.95 billion. This is expected to easily pass 1 billion users by the end of 2020 as more people adopt and understand NFC.

    6.  In 2018, NFC generated over $15 billion USD in transaction value. A combined figure from just the United Kingdom and the United States.

    7.  As of 2018, over 16 million NFC enabled POS (point of sale) terminals had been shipped globally.  Allowing for contactless payments in stores and other businesses.

    8.  Also in 2018, the shipments of NFC secure elements reached 620 million units globally.

    9.  At the end of 2019, 84.37 million contactless payment cards were in use in the United Kingdom.  Making NFC cards the most common type of payment card in the UK.

    10. At the start of 2020, there were 441 million Apple Pay users worldwide. This was up from 292 million at the start of 2019. Apple also estimate that 58% of iPhone users have the NFC based Apple Pay enabled. 
by Paul T on February 02, 2020

NFC is Near Field Communication, it’s the technology that enables data to be retrieved from either a powered source (Like a Point of Sale [POS]terminal) or a non-powered source such as an NFC enable-business card or A1 Card.
Obviously not a household name just yet.

by Mary Sloane on February 02, 2020

I hate acronyms who else wants to join my club IHAC (I Hate Acronyms Club) What is an NFC device?

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