Mobile payment users to surpass 375m by 2015
The number of mobile payment users will soar to 375 million in 2015, according to In-Stat.
Mobile payments are already used by consumers globally and demand is growing but 2011 is expected to be a turning point for the industry, with users growing from 116 million to more than 375 million by 2015.
“There appears to be consumer demand for mobile payments,” Amy Cravens, market analyst, said. “Consumers do recognise pain points with current payment systems and indicate support for a cleaner, easier alternative.
“If mobile operators are able to push beyond the infrastructural challenges and introduce these services to the mass market, the transactional value of the mobile payments market is positioned to grow nearly tenfold over the next several years.”
In-Stat research shows a number of reasons for the increasing shift towards mobile payments:
- Significant smartphone penetration
- Consumer comfort level with purchasing goods with their phone through existing channels
- A desire among mobile operators to develop opportunities to generate revenue from mobile based commerce
- Infrastructural developments supporting contactless payments, including NFC-enabled mobile phones and point of sale (POS) terminals
To learn more, book a ticket for MediaTel Group’s Come on Mobile… Stand Up and Deliver! event on 18 March. The panel includes Virgin, O2, Google and Facebook.