Dallas, Texas-based Parks Associates has a new report that says NFC technologies will become a standard feature on smartphones, and consumer response to the convenience of mobile wallets will drive the creation of a multibillion-dollar industry for credit card companies, e-commerce retailers and mobile operators.

"The convenience of e-Wallet solutions, specifically for eliminating the need to carry multiple or any credit cards, is driving the majority of consumer interest," said Harry Wang, director of mobile research for Parks Associates, in a statement.

According to Parks Associates, almost 50 percent of U.S. smartphone owners find an NFC-enabled mobile wallet appealing. Additionally, Parks Associates reports nearly 16 percent of smartphone owners use PayPal or other types of e-wallet solutions as their preferred method for mobile payments.

"We are witnessing a groundswell of activities in the mobile payment industry,” Wang said.

The research firm's report, "Mobile Payment, Technologies and Business Models," breaks the industry into several segments and looks at how each segment will likely develop. The report predicts that NFC-enabled mobile wallets at the point of sale and digital wallets facilitating m-commerce will be the dominant choices for customers.

"While the segments of this market are diverse now, all major players are planning for a converged payments future where one digital wallet can be used for in-person retail payments and online payments across all product categories," said Jennifer Kent, Parks Associates' research analyst.

"Consumers will gravitate towards a single, trusted provider for most of their mobile commerce needs, so the development of a reliable wallet with diverse capabilities will be crucial," Kent added.

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