Mobile payments to triple by 2015

Mobile payments expected to reach $670b by 2015

In a new report by Juniper (which is suppose to be free to download but is not), Mobile payments are expected to triple by 2015 with digital goods representing 49% of sales. The main driver of the growth is the adoption of NFC payment capabilities and other payment options like Square. Mobile commerce is set to be the big story of 2011 and on as companies shift their focus to enabling greater mobile integration with the shopping experience.

From the press release:

“Senior analyst David Snow explained: “Our analysis shows that emerging segments such as physical goods payments, NFC and money transfers will fuel market growth by a factor of 2.7 times by 2015. 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.”

Other key messages from the report include:

  • 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.
  • Digital goods payments will account for nearly 40% of the market in 2015.”

From Venture Beat:

“Some 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014,” Juniper’s John Levett wrote in an email announcement this morning. “Meanwhile the need for financial access in developing countries is such that active mobile money users will double by 2013 and drive transaction values accordingly.”

The report came out on 5/7 so I don’t know why they are just doing a press release now.  I don’t know why the press relese says “‘Mobile Payment Strategies: Opportunities & Markets 2011-2015’ can be freely downloaded from www.juniperresearch.com, which it can’t, its £1750 for a single user.  The Analyst Xpress blog has one post by David Snow and he has no bio or profile and his last and only post was on June 30th and doesn’t reference the “new” report.

About Daniel Davenport

Daniel is a digital media executive with internet and broadcast experience. Daniel is currently the executive strategy director at THINK Interactive.

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