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Wireless Media

Trillion Dollar mPayments Market Depends on Compelling Use Cases

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Report Summary:

Strategy Analytics is in the process of finalizing our worldwide forecast of non-NFC mobile payments, which appear likely to reach the trillion dollar mark well before the decade is out, in terms of value transacted. The two major developing regions of Middle East/Africa and Asia/Pacific will dominate the market, accounting for well over half of the value of global transactions. This forecast rests on the assumptions that mobile operators, banks, commercial enterprises and government regulators – all key parties in the mobile payments ecosystem – work together to develop and promote genuinely compelling opportunities to use mobile payments systems. “Low hanging fruit” such as airtime top-ups and in-country P2P remittances will not drive the global market to the trillion dollar level.

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