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. However, physical goods purchases via mobile phones will still only account for around 4% of all retail transactions by 2017.

The Mobile Device Hardware Security Market - the ‘built-in’ components that protect information on smartphones and other mobile devices - will be worth $1.9 billion (£1.22 billion) in 2017, according to a new report from ABI Research.

That’s more than four times the $430 million value of the market this year.

UK-based m-ticketing technology specialist Masabi has demonstrated a proof-of-concept Android application that can read and display the contents of ITSO-based transport ticketing smart cards. ITSO is the UK government-chosen standard for smart ticketing that’s already being used by transport operators including Go-Ahead, Stagecoach and Newport Transport as well as in a number of regional schemes.

Masabi’s Smart Card Buddy Beta has been developed by the company’s Beta Labs programme and can be downloaded from the Google Play app store.

Research from Juniper Research shows more than 1 in 4 of Western European and US mobile phone users will use an NFC-equipped mobile phone to pay in-store for goods by 2017. That’s a dramatic increase on this year’s total, which is expected to be less than 2%.

The total amount of money transacted in NFC mobile payments is set to exceed $180 billion (£117 billion) worldwide in 2017.

The total value of mobile transactions worldwide will exceed $171.5 billion (£109 billion) this year, a 61.9% increase from last year’s total.

That’s the latest calculation from Gartner, which also expects the number of mobile payment users to reach 212.2 million in 2012, up from 160.5 million last year.