News Articles

Wednesday, August 15, 2012

Mobile payments to increase four-fold in five years

A new report from Juniper Research expects mobile payment transactions to increase nearly four-fold in the next five years, exceeding $1.3tn (£829 billion) by 2017.

This growth will mainly be driven by sales of physical goods by a combination of remote purchases and in-store NFC transactions. By 2017, these transactions will account for 54% of all mobile payments. However, physical goods purchases via mobile phones will still only account for around 4% of all retail transactions (and 30% of eRetail transactions) by 2017.

Dr Windsor Holden, Research Director with Juniper Research and author of the report, said “While we are now seeing significant deployments of contactless infrastructure, consumer awareness is extremely low. Thus, it is imperative for all members of the NFC value chain to engage with the public to heighten its profile as a simple, intuitive payment mechanism.”

[Whitepaper; report]

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Retailing, Applications, NewsNumber of views: 875

Tags: researchnfcpayments

Leave a comment

Name:
Email:
Comment:
CAPTCHA image
Enter the code shown above in the box below.
Add comment

Name:
Email:
Subject:
Message:
x

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«October 2016»
MonTueWedThuFriSatSun
262728293012
3456789
10111213141516
17181920212223
24252627282930
31123456

Archive

Terms Of Use | Privacy Statement