Global mobile payments are expected to reach a gross value of $945bn in 2015, according to market intelligence services IE Market Research (IEMR).
The Canadian-based company predicts a 30-fold increase on the 2010 value mobile payments to $31.5bn by 2015. The research underscores IEMRs expectations that mobile payments will become mainstream over the next 3 years.
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Nizar Assanie, vice president of Research at IEMR said:
M-commerce and mobile contactless transactions, driven by their allure of convenience, are poised to promote less-cash societies all over the world.
The Western European and North American markets are ready to begin full adoption of the digital wallet.
The report also found a declining trend in SMS transactions relative to the growing adoption of NFC technology. There were 1.5 billion NFC transactions globally in 2010, according to IEMR. This figure is expected to reach 55.3 billion in 2015, an annual growth rate of 105.2%.
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