Amid all the buzz related to NFC (Near Field Communication) technology came the revelation that one in five smartphones are likely to be equipped with NFC in just three years.
The revelation came from a report by the research firm Jupiter Research who predicted that a minimum of 20% of the smartphones in the market will be enabled with the NFC feature by 2014.
This technology, which some predict will cause the slow death of physical credit cards, has been anticipated by the tech savvy community for years now, and will launch in 20 countries next year alone.
Even though many people have yet to hear about the new technology, some analysts think that sales of mobile phones equipped with NFC could surpass one million by the end of the year.
By 2015, at least half a billion users are expected to be using this technology to purchase their metro, bus or rail tickets.
The main application of near field communication is to make payments through a smartphone instead of a credit card. Since mobile phones must already uniquely identify each user, the system is expected to be reasonably secure. The convenience of paying with a smart phone, especially for minor purchases, is expected to reduce the popularity of physical credit and debit cards.