Juniper Research: Apple Pay will lead the way in pushing mobile/wearable contactless payments

Mobile and wearable contactless payments could hit $95 billion by 2018, with Apple leading the way to help develop the sector, according to new research from Juniper Research, as noted by The Irish Times.

The research group says the market for such payments was worth less than $35 billion last year, but recent developments and an increased interest in near-field communications (NFC) technology has given the sector a boost. 

However, Juniper Research says it take “several years” before wearable technology reaches “critical mass.” The research group notes that Apple sold nine million Apple Watches in 2015 compared with “millions of new iPhones compatible with NFC.”