Juniper Research predicts NFC technology – which turns the phone into a payment tool when it 'touches' a reader – will proliferate beyond the Far East, where it is well-established, into Europe.

Report author Howard Wilcox said: "Our research found that both the business model and the rollout of POS (Point of Sale) NFC readers at merchant locations are issues that need solving – depending on the country.

"As these are overcome NFC is poised to enter an operational build up phase culminating in mass service rollouts across many countries, typically in metro areas driven by transport ticketing."