mPayments to Top $1.3 Trillion by 2017

Another day, another bold estimate for where mobile payments are heading.

The scale of global mobile payment transactions is expected to rise nearly fourfold over the next five years to more than $1.3 trillion, Juniper Research says.

“Mobile Payments Strategies: NFC, Remote Purchases & Money Transfer 2012-2017” presents the view that this anticipated growth will primarily be driven by sales of physical goods by both remote purchases and NFC transactions.

These transactions – which will account for 54% of the total value of mobile payments by 2017 – have already been bolstered by stimuli such as the widespread rollout of NFC support infrastructure and the increased engagement of operators with the mCommerce space.

“While we are now seeing significant deployments of contactless infrastructure, consumer awareness is extremely low,” says report author Dr. Windsor Holden. “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.”

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