01 July 2008

Payment For Goods Via Mobiles To Boom

Payments made via mobile phone for digital goods, including music, tickets and games and physical goods, such as gifts and books will exceed $300 billion globally by 2013, according to a forecast by market research company Juniper Research.  

The top two regions, the Far East and Western Europe, will represent over 60% of the $300 billion p.a. global mobile payment gross transaction value by 2013 for digital and physical goods, according to Juniper Research.

Global annual gross transaction value is expected to grow over 5 times by 2013. The ticketing segment will be driven by consumer usage on rail, air and bus networks as well as sports and entertainment events  This is expected to represent over 40% of the global transaction value by 2013

A region by region analysis by Juniper Research found that there is a significant and immediate opportunity for mobile payment services, systems, software and supporting services to underpin the processing of this value of payment transactions by 2013. 

"Merchants in North America and Western Europe are just starting to realise the potential of a mobile web presence as a fourth channel to market,” explained Juniper Research report author Howard Wilcox. “Retailers should be evaluating the benefits of the mobile web, and be mindful of the success of regular ecommerce sites in generating sales. They need to move quickly to exploit the opportunity presented, and ensure that they maintain ease of use for their customers who are already familiar with web shopping from their PCs."