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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Mother who withheld medicine guilty of attempted murder 12:55pm EDT First shots mark 150 years since start of Civil War 4:11pm EDT Questioning of Obama's birth in U.S. should stop: sister 1:42pm EDT Japan says nuclear crisis stabilizing, time to rebuild | 4:39pm EDT Cisco kills Flip camera in first revamp step 4:50pm EDT Discussed 140 Reid says Republicans want shutdown to close clinics 129 China tells U.S. to quit as human rights judge 115 Obama, Congress struggle to find budget deal Watched South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 X-47B - the future of autonomous aerial warfare Fri, Feb 11 2011 Japan raises nuclear crisis level 2:26am EDT VeriFone sees smartphones driving mobile payment wave Tweet Share this By Himank Sharma and Tenzin Dekeva BANGALORE (Reuters) - VeriFone Systems Inc, the largest U.S. maker of payment terminals, expects to ship well over 1 million 'near-field communications' (NFC)-enabled systems this year, underlining growing momentum... Email Print Related News HTC overshadows Nokia at smartphone launches 11:59am EDT Exclusive: PopCap Games could file IPO by end of summer Mon, Apr 11 2011 Intel introduces new chip aimed at tablets Mon, Apr 11 2011 Google's Page makes first changes to management Fri, Apr 8 2011 NXP not for sale, would consider a rich offer: CEO Fri, Apr 8 2011 Analysis & Opinion Where to put the ring-fence: implications of the UK bank report UK puts scope of investment banking up for grabs Related Topics Technology » Personal Finance » Media » Stocks A woman uses her mobile telephone in central London January 23, 2011. Credit: Reuters/Luke MacGregor By Himank Sharma and Tenzin Dekeva BANGALORE | Tue Apr 12, 2011 12:37pm EDT BANGALORE (Reuters) - VeriFone Systems Inc, the largest U.S. maker of payment terminals, expects to ship well over 1 million 'near-field communications' (NFC)-enabled systems this year, underlining growing momentum for a technology that allows shoppers to buy with little more than a wave of a smartphone. NFC technology passes encrypted information between devices at close range without contact. Instead of swiping a credit card, shoppers can wave their smartphone near a terminal, effectively turning an NFC-enabled phone into a "mobile wallet." "We're already seeing major systems purchases from some of the flock leaders in large retail asking for NFC capability ... and I'm sure that will continue and accelerate," VeriFone CEO Doug Bergeron told Reuters in an interview. The technology -- which promises to replace credit and debit cards in the same way that plastic has largely displaced cash -- could spur equipment upgrades or fresh sales, tightening VeriFone's grip on the terminal market. The number of mobile payment users is expected to top 340 million in 2014, ringing up $245 billion worth of transactions, according to research firm Gartner. "There isn't a CEO in any payment facing industry that isn't at least trying to find out what role (their companies) play and how eventually to monetize it," Bergeron said, noting the scramble to get a piece of shoppers' mobile wallets. Earlier this month, ISIS -- a joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless -- said it would pilot its mobile commerce program early next year, following Sprint Nextel Corp, which plans a similar launch this year, according to a Bloomberg report that also noted Amazon.com Inc may introduce a mobile payment service. "Our economic success vis-a-vis NFC is not favorably or unfavorably impacted by the success of any one of (these) initiatives." The typical refresh cycle for payment terminals is 3-4 years and if NFC succeeds, VeriFone would have the opportunity to speed up that cycle, Bergeron said. The big three payment processors -- MasterCard Inc, Visa Inc and American Express Co -- have announced their versions of NFC-enabled services. "All the new initiatives at the end of the day have to co-exist ... I think there's 15 companies that VeriFone is communicating with," Bergeron said, adding that with over a 60 percent share of the U.S. terminal market his California-based company stands to gain as the technology grows in popularity. FROM "DUMB" CARDS TO SMART PHONES Last month, the Wall Street Journal reported that Google, Mastercard and Citibank were working on a mobile payment partnership using VeriFone terminals. Without commenting directly on that deal, Bergeron noted Google's interest could prove a turning point in adopting the technology. "If you've got the provider of the most prolific and free operating system putting some whip, some marketing leverage, some mindshare behind it (NFC), I think it's inevitable that part of the chicken and egg gets eventually resolved," he said. 1 2 Next Technology Personal Finance Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. 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. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. 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