Mobile Payment Transactions Will Grow, Research Shows

07/01/2008

A new analysis of the mobile payments opportunity forecasts that the gross transaction value of payments made via mobile phone for digital goods (such as music, tickets and games) and physical goods (typically gifts and books) will exceed $300bn globally by 2013. A region by region analysis by Juniper Research found that there is a significant and immediate opportunity for mobile payment services, systems, software and supporting services to support the processing of such payment transactions by 2013. With applications and service case studies, the study explores how the mobile phone is developing into a payment tool that will be used by more and more people, more and more often in future. Report author Howard Wilcox noted: "Merchants in North America and Western Europe are just starting to realize the potential of a mobile web presence as a fourth channel to market. Retailers should be evaluating the benefits of the mobile web, and be mindful of the success of regular ecommerce sites in generating sales. They need to move quickly to exploit the opportunity presented, and ensure that they maintain ease of use for their customers who are already familiar with web shopping from their PCs."

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