Displaying items by tag: juniper research

Monday, 10 October 2011 01:10

Mobile payments soar towards $170 billion

Worldwide mobile payments to merchants for physical goods will treble from a gross $60 billion forecast this year to exceed $170 billion by 2015, with researchers finding that the initial growth in payments was fuelled by a dramatic upsurge in retail apps in the wake of the consumer smartphone explosion.

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The number of global smartphone shipments are expected to reach one billion a year in 2016, increasing from 302 million in 2010, as competition intensifies amongst vendors offering premium smartphones.

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Consumers around the world are increasingly buying and making payments for everyday transactions using their mobile devices, with the total value of mobile payments expected to rise by $430 billion by 2015.

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