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Juniper Research: Mobile Money Transfer and NFC to be Half the Overall Mobile Payment Market
Mobile money transfer and contactless NFC (Near Field Communications)
will together account for 50 percent of the overall mobile payment
market by 2013, (based on the gross transaction values), according to
Juniper Research's new Mobile Payments Study.
The Juniper report indicates that the mobile payments market, which is
today is dominated by purchases of digital goods such as ringtones,
music, and games, will in future be driven by subscribers transferring
money and using NFC features on their handsets to make purchases. This
will drive the overall mobile payments market to grow by a factor of
ten between now and 2013.
Report author Howard Wilcox said, "We see significant opportunities for
new services making it easier for the 'underbanked' population and
migrant workers to make remittances, using their mobile phones as
mobile wallets: the services already in operation are seeing rapid
growth."
Wilcox added that mobile wallets will incorporate NFC which will enable
people to use their mobile phones to pay for small value items such as
refreshments and magazines.
The top 3 regions for this sector will be the Far East & China, Western
Europe and North America). Together these will account for over 70
percent of mobile money payments on a gross transaction basis by 2013.
However, there will be hurdles to be addressed for the market to reach
its tipping point, including NFC handset availability, workable
business models and financial legislation.
The Juniper Research study provides an analysis of the "big picture,"
exploring how the overall mobile payments market will develop. The
report provides forecasts for digital and physical goods purchases,
contactless NFC and national and international money transfers and
remittances, providing regional forecasts of gross transaction values.
The report also offers profiles of 13 vendors and 17 service providers
pioneering in this market.
Juniper Research provides research and analytical services to the
hi-tech communications sector, providing consultancy, analyst reports
and industry commentary.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed via M2 Communications Ltd - http://www.m2.com))
http://www.10meters.com
Comments on this story may be sent to newsdesk@closeupmedia.com
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