Demand for mobile payments to rise

Over 38% of respondents to a global IDC survey said they would rather leave their house for a day without their wallet and keys than their mobile phones.

by Helen Leggatt

However, new studies suggest that mobiles will soon become wallets and keys, solving the decision of which to carry. The technology is already available and it’s up to businesses and infrastructure organizations to aid deployment.

A programme called Pay-Buy-Mobile has recently been launched in Europe by the GSM Association and the European Payments Council. The aim is to co-ordinate efforts to enable mobile payments for just about anything, from transport to tortellini.

Juniper Research recently released analysis suggesting that in five years time around 2 billion mobile users will have bought digital goods, such as electronic tickets, television shows, music, video and games using their mobile phones.

"Many digital content goods and services are becoming basic "must haves", particularly in the sub-35 age group,” said Howard Wilcox, author of Juniper Research's report. “People who are 15 to 20 today will expect to buy directly with their phones and will drive this market over the next few years.”

Some large online businesses have already enabled mobile purchasing, including Amazon with its TextBuyIt offering, and as the technology develops due to consumer demands, more and more on- and offline businesses will be attracted to mobile payment options and m-commerce.