The contactless payment market will grow to $ 870 million by 2011

The contactless payment market, which includes software and hardware, will grow to $ 870 million by 2011, ABI Research reports . Such payments are made from a mobile phone in which a special RFID radio transmitter is integrated.

In 2006, its volume was estimated at $ 260 million, and experts predict a 27 percent increase over each of the next five years.