Near field communications – so-called wave and pay – technologies may be stuck in a slow lane of adoption in the United States, but in China analysts say NFC is on a fast track to a projected $8 billion by 2014.
Key to this is that the Chinese government has expressed a preference for NFC, according to analysis from ABI Research.
The other key is the sheer volume of the Chinese mobile marketplace. Jake Saunders, vice president for forecasting at ABI Research, noted, "China is a big mobile payments market to play for. There were more than 868 million cellular subscribers as of the end of March 2011."
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