Categories
Close
Menu
Menu
Close
Search
Search

Featured Articles

News

European mobile wallet payments expected to grow 275% in five years

Mark

Share:

Print

Rate article:

No rating
Rate this article:
No rating

A new research report from Berg Insight shows that in-store mobile wallet payments across Europe are expected to grow from less than €100 million (£85 million) in 2012 to €45 billion (£38 billion) in 2017, which is a compound annual growth rate of 275%. This will give mobile wallets 1.6% of all European credit card and debit card payments in 2017.

In North America, mobile wallet users spent $500 million (£320 million) last year. Most of these transactions used the Starbucks smartphone app rather than a traditional banking service. However, ‘universal’ mobile wallets that allow customers to use their existing bank cards are expected to drive in-store mobile purchases to reach $44 billion (£28 billion) by 2017.

Lars Kurkinen, telecom analyst at Berg Insight, said “People do not have a problem with cash or payment cards today. Value-added services that enable new shopping experiences before, during and after payments will be what truly distinguish mobile wallets from the traditional payment instruments. Gaining an early lead in the market can be crucial, as in the long term only a limited number of mobile wallet services will survive in each market due to network effects.”

[Report brochure (pdf)]

Comments

Collapse Expand Comments (0)
You don't have permission to post comments.

Opinion Articles

ExclusiveMEF predictions: ten key mobile trends for 2014

MEF, the global trade association for companies engaged in mobile content and commerce, has revealed its mobile industry predictions for the next 12 months.

Its forecast combines insights from the group’s Global Board of Directors with research from the recent Global Mobile Consumer Survey.

ExclusiveTop five mobile tech predictions for 2014 from Jasper Wireless

Macario Namie writes:

As the connected car phenomenon gains pace, 2014 will see global automotive firms embracing LTE. Machina Research predicts 90% of cars sold in 2020 will have some form of embedded connectivity – that connectivity roll-out continues strong in 2014 and LTE is pivotal to its long-term success.

ExclusiveLast week at The Fonecast: 16th December 2013

Mark Bridge writes:

HTC experienced a bit of Christmas cheer last week when the threat of a sales injunction against the HTC One mini smartphone and a number of other devices was lifted. Nokia had previously won a patent-related court case against HTC but it seems that a sales ban was deemed too harsh a penalty.

ExclusiveDeutsche Telekom M2M predictions for 2014

Jürgen Hase writes:

Machine-to-machine communication (M2M) and the Internet of Things (IoT) run through all areas of life and work. Cars, cargo containers, parking spaces or even wristwatches and coffee cups – everything around us is on the verge of being connected.

RSS
First7891012141516Last

Recent Podcasts

ExclusivePodcast from Mobile World Congress 2015

Mark Bridge learns about the mobile technology trends at Mobile World Congress 2015 by chatting to James Rosewell of 51Degrees, Dr Kevin Curran from the IEEE and Chris Millington of Doro.

They talk about wearable devices, wireless charging, mobile operating systems and much more... including some of their favourite products from the exhibition.

ExclusiveLooking back at February: from security scares to multiple MVNOs

We're taking a look back at the biggest mobile industry news stories from February 2015, including allegations that the UK's security service tried to breach SIM card security by hacking into one of the world's biggest SIM producers.

We also talk about the planned BT and EE merger, the creation of two new UK virtual networks, some acquisitions in the mobile payment arena and a new Ubuntu smartphone.

ExclusiveA month of mobile: O2 counts on 3, Microsoft counts to 10 and Apple counts its profits

We're back with a month of mobile industry news, including takeover talks and takeover rumours. O2 and Three are said to be discussing a merger... but is there any truth in the suggestions that BlackBerry could be up for grabs?

We also discuss Apple's record-breaking quarterly figures, the highlights of CES and the launch of Microsoft Windows 10, as well as saying farewell to the current version of Google Glass.

RSS
12345678910Last

Follow thefonecast.com

Archive Calendar

«June 2026»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345

Archive