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 $300 billion globally by 2013, according to new data from Juniper Research.
The region-by-region analysis found there is a significant and immediate opportunity for mobile payment services, systems, software and supporting services to support the processing of such payment transactions.
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.
"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," said report author Howard Wilcox. "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."