Gurgaon, Haryana Jun 13, 2025 (Issuewire.com) - India's Near Field Communication (NFC) market is witnessing robust growth due to increasing demand for contactless digital transactions and the widespread use of smart devices. As of 2024, the country recorded approximately 700 million smartphone users, a large portion of whom utilize NFC-enabled devices for seamless transactions. Digital payment volumes increased by nearly 40% during the year, reflecting a strong preference for tap-based solutions.
The integration of NFC technology with the Unified Payments Interface (UPI) system is contributing significantly to the adoption of contactless payments. Urban transport systems, including the Delhi Metro, have introduced NFC-based ticketing solutions, improving commuter convenience and operational efficiency.
Developments such as the National Common Mobility Card (NCMC), currently active in 19 cities, are shaping the use of NFC in everyday travel. This initiative allows users to access metro, bus, toll, and parking services using a single card. The government's Smart Cities Mission is further encouraging investment in NFC-enabled infrastructure, including smart parking and toll systems.
The wearable technology segment is also influencing NFC adoption. In 2024, the wearable market in India grew by 28%, driven by demand for smartwatches and fitness trackers that feature NFC for contactless payments. Additionally, the growth of IoT devices in sectors such as home automation is enabling new applications for NFC, including smart locks and device pairing.
Several major players operate in India NFC market. Samsung Electronics has expanded the reach of its NFC-powered payment service, Samsung Pay, which now supports transactions across over two million retail outlets. NXP Semiconductors, a global supplier of NFC chips, reported 16% growth in its connected devices segment in 2024. Domestic fintech companies such as PhonePe are also advancing the use of NFC-enabled micro-payments and offline services.
Despite the growth, concerns about cybersecurity remain. In 2024, India reported over 29,000 cyber fraud cases linked to digital payments, with total losses amounting to Rs 1.77 billion. Regulatory measures and public awareness efforts are ongoing, but data security remains a key focus for all stakeholders.
India’s NFC market is expected to continue expanding through 2030, supported by digital infrastructure advancements, wearable device proliferation, and the continued shift towards cashless transactions.
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