Twenty-eight million consumers will use their NFC phone to make a mobile payment in 2014, a new forecast by IDATE reveals, and the value of transactions conducted via NFC will rise from an estimated €4.6 billion in 2014 to €53.8bn in 2018.

Some 278m NFC phones will be in use in 2014, the analysts add, up from 146m in 2013. By 2018, the number of NFC phones in circulation is expected to reach 1.9bn.