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BizReport : Mobile Marketing : July 06, 2011

Global mobile payments to almost triple by 2015

New figures released by Juniper Research show that global mobile payments will almost triple by 2015 thanks to a rise in the number of NFC-enabled devices and the development of mobile wallets.

by Helen Leggatt

Juniper Research says global mobile payments from digital and physical products, money transfers, and Near Field Communication (NFC) will total $670 billion in 2015, compared to $240 billion this year.

According to the new "Mobile Payment Strategies" report all segments will experience two to three times growth over the coming five years. Come 2015, digital goods payments will account for almost 40% of the market.

"Digital goods is the largest segment and, although forecast to more than double, it is not growing as quickly as some of the newer segments," said senior analyst David Snow

The top 3 regions for mobile payments (Far East & China, W. Europe and N. America) will represent 75% of the global mobile payment gross transaction value by 2015.

A recent survey from MasterCard revealed that 62% American mobile users were open to the idea of using their devices to make payments.

"Consumers are already living a mobile lifestyle so using their phones to make payments on a daily basis is a natural next step," said Mung Ki Woo, group executive, mobile at MasterCard Worldwide.

"2011 is the beginning of the NFC mobile payments era, and consumers are eager to get their hands on the first commercial deployments in the U.S."

Tags: digital goods., mobile payments, mobile phone, near-field communications

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