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RESEARCH, ANALYSIS & TRENDS

Mobile NFC payments expected to experience

strongest growth in the digital commerce market

A new study from Juniper Research has found Digital Commerce Growth Catalysed by eCom-
that the total value of digital commerce merce Adoption
transactions globally will exceed $20 trillion by
2027, from $12.3 trillion in 2022. It predicts Additionally, the research predicts online shopping will
growth will be driven by the increasing drive digital commerce growth, with the value of eCom-
merce transactions expected to grow by 82% globally
acceptance of digital payment methods and between 2022 and 2027. Remote purchases of physi-
technologies that enable digital payments during cal goods will experience the strongest growth: 106% in
the checkout procedure, such as NFC (Near-field the value of transactions globally during the 5-year peri-
Communication) payments. This spend od. Improvements in supply chain and order fulfilment
encompasses online money transfer, digital and operations and faster delivery times for physical goods
physical goods purchases, digital ticketing are anticipated to drive this growth.
purchases, banking and bill payments.
Moreover, during the height of the COVID-19 pandem-
NFC Payments Lead ic, consumers’ shopping transactions were forcibly mi-
grated to eCommerce channels. Vendors operating in
The research anticipates that mobile NFC payments the eCommerce market must integrate alternative pay-
will experience the strongest growth in the digital com- ment methods, such as BNPL (Buy Now, Pay Later),
merce market, with 176% growth in transaction value into their solutions to sustain this rapid growth and
forecast between 2022 and 2027 globally. It predicts an compete with bricks-and-mortar stores.
increasing consumer desire for frictionless payment
methods will drive NFC transactions by eliminating the For more information, please see the new report: Digi-
need for consumers to carry a payment card in addition tal Commerce: Key Trends & Market Forecasts 2022-
to their mobile device. 2027 or download the free whitepaper: The Future of
Digital Commerce. ◊
The report urges NFC payment vendors to implement
solutions that eliminate any unnecessary steps in the Source: Juniper Research
payment process. The report recommends supporting
devices that enable biometric identification for payment
authentication to reduce the risk of payment fraud in
the payment process.

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