Mass adoption of mobile payments, NFC and contactless technology is still at least five years out, according to new research from financial technology Compass Plus.
The findings, which are based on a survey of 190 payments and banking experts around the world, suggest a significant decrease in expectations since 2011, when respondents said mobile payments would be mainstream by 2013 or 2014.
"By looking at the results from the 2011 and 2012 research, whose results stated mainstream penetration would occur within two to three years and one to two years consecutively, we should already have reached a state of mass adoption," Compass said. "However, in the most recent set of results, industry expectations have been pushed back further to 2020."
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