Financial institutions stand to make little incremental revenue from Near Field Communication payments above what they already earn from plastic card payments because the contactless technology will not replace large amounts of existing cash payments, according to a recent report from Celent, a Boston-based financial research and consulting firm.

"The mobile NFC finish line does not look as promising as the industry hype would lead a banker to believe," states Celent.

In developed countries, the payments brands and financial institutions "have done an excellent job of growing plastic card usage, and there is relatively little cash to be realistically displaced," notes the report "The View from the Mobile NFC Finish Line: Bank Economics in a Mature Mobile NFC Payments World."

Additionally, such incremental costs as customer service, virtual card provisioning and text messaging related to mobile NFC payments will reduce financial institutions' revenue potential further.

After costs, the average U.S. financial institution stands to increase its revenue by $1.83 per debit card account annually, according to a Celent estimate. That equates to $183,000 for an institution that issues 100,000 cards.

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