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Handset vendors released more than 40 NFC-enabled models in 2011, hoping to tap emerging market for mobile payments. NFC enables data to be exchanged wirelessly over distances of a few centimeters, meaning mobile phones can be used to pay for goods, store electronic tickets, download music and swap photos and business cards. Berg Insight said it expects the global market for NFC phones to grow to 700 million phones in 2016 from 30 million in 2011. NXP Semiconductor is the leading manufacturer of NFC chips, while also Inside Secure (INSD.PA) has won some deals (Reporting By Tarmo Virki; Editing by Steve Orlofsky) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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