The latest study from ABI Research, Oyster Bay, N.Y., shows spending for contactless payments hardware and software could reach $870 million in three years, about triple the amount spent in 2006.

Two applications–transportation and credit, debit, and e-purse payments–are leading the charge. “Initial contactless payments deployments have already shown the ability to speed transactions and capture previously cash-only transactions for financial service networks,” says one ABI analyst.

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