Almost 200 Billion Mobile Transactions a Year by 2019
According to a report from Juniper Research, consumers will be making up to 195 billion mobile payments each year by 2019.
Currently at 72 billion mobile transactions a year, the firm predicts purchases on tablets and mobiles will increase steadily over the next few years. The largest growth area is predicted to be in the digital goods sector due to a rise in app purchases.
The trend is expected to provide an opportunity for mobile carriers to claim cash from those in areas not usually reached.
The report author Dr Windsor Holden believes businesses that have deployed carrier billing systems have already seen positive results across a range of indicators, including higher conversion rates and transaction volumes.
He said: "For the first time, they can monetise consumers who would otherwise have been excluded, either because they lacked a credit card or because they were unwilling to enter card details online."
NFC (Near Field Communication) programs are expected to cause an increase in transactions, after services such as Apple Pay normalises the use of alternative payments through technology.
The increase in mobile networks has said to have played an important role in boosting mobile commerce, as people are able to make purchases on their device from any location. Contactless payments have also followed in the same trend, increasing by 189% since May last year.
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