New research from KPMG predicts that the value of global m-payment transactions will grow by 97% per year over the next 3 years, reaching £591 billion by 2015.
The company says this growth will be fuelled by consumer demand for NFC-equipped devices and by the growing desire of consumers to shop in environments that are ‘always on, always fast and always accessible’.
David Hodgkinson, senior manager in KPMG’s customer and channel consulting team, said “Growth in the m-payments marketplace will be driven by customers’ increasing need for convenience and the development of a raft of new applications enabling commerce in the palm of our hands. Today premium SMS dominates mobile payments, but by tomorrow contactless and cloud-based services will dominate, with an expected market share for contactless of 37% by 2015.”
[Report (pdf)]