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Mobile payments to reach 2.5B users globally by 2015: studyBy
With the exponential growth of feature and smartphones, mobile payments have taken off and are predicted to grow 40 percent and reach 2.5 billion users globally by 2015, according to Juniper Research.
“Although there are some industry barriers limiting greater adoption, the user numbers are driven by the underlying growth in mobile users, the increased capability of devices and networks to deliver a quality interactive service and the user convenience factor,” said David Snow, senior analyst at Juniper Research, Hampshire, England.
In addition to the study predicting that the Far East and China region will be the largest area of mobile payment, it also shows that the Indian sub-continent will grow to more than 400 million mobile payment users by 2015.
Juniper also found an increase in mobile airline purchases.
“Following the International Air Transport Association-led transition to 100 percent bar-coded paper boarding passes, growing numbers of airlines have taken the next step by delivering mobile boarding passes and adding the ability to book tickets by mobile device,” Mr. Snow said.
“Add to this the information services available through the mobile phone, and this industry is close to becoming end-to-end digital on the mobile device from a user perspective,” he said.
The study is proof that mobile payments are making a quick rise in the industry.
According to Mr. Snow, mobile payments are a central part of mcommerce, but are still only one aspect of the mobile industry.
“Aside from the other financial services available through the mobile device, there is plenty of scope for synergies with other mobile marketing activities, including advertising, coupons, vouchers and product discovery,” Mr. Snow said.
“Together with the increasing capability of smartphones and technologies such as NFC and augmented reality, it is now possible to provide highly personal, interactive and integrated marketing experiences to the users wherever they are, driving both the payment and delivery processes,” he said.
“During 2011 to 2015 and beyond, Juniper expects to see many new innovations across these sectors.”
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