"Juniper Research forecasts that Person2Person fund transfers and mobile payments in the developing world, together with the commercialization in 2009 of NFC (Near Field Communications) based m-payments, will generate transactions worth approximately $22 billion by 2011. The analysts find cooperation among the major m-payment industry stakeholders creating a positive atmosphere, and an ecosystem capable of incubating intelligent ways for using the mobile phone for payment."

The organization set up to develop and promote near field communications technology, the NFC Forum, has started developing a specification for a Host Controller Interface (HCI) between NFC contactless controllers and electronic devices' application processors.

"The mobile-phone-based financial payment infrastructure being planned around Near Field Communications (NFC) technology will make it a "must have" technology in future wireless products. Here's a quick review of the basics of Mobile NFC technology and an intriguing glimpse into the brave new world of secure over-the-air (OTA) channels."