Mobile payments for physical goods to exceed $170 billion by 2015

gross merchandise transaction value of mobile payments for physical goods will
exceed $170 billion worldwide by 2015. This is nearly triple the $60 billion
forecast for 2011, according to Juniper Research.

Juniper Research
found that initial growth had been fuelled by a dramatic upsurge in retail apps
in the wake of the consumer smartphone explosion. However, there was an
increasing industry awareness of the need to enable an integrated shopping
experience within the wider context of a fast expanding eCommerce market, thus
enabling seamless access to retail sites across multiple devices.

research for this report underlined the importance of mobile as an extra
channel to market, but Juniper believes that mobile campaigns must be tightly
linked to print, online and store based campaigns to ensure consistency of
customer experience. Increasingly people will browse on one device such as a PC
and then buy from another such as a smartphone,” said David Snow, senior
analyst, Juniper Research.

the Juniper report also advises that vendors need to innovate unceasingly as
the market develops and becomes more competitive.

market will gain further momentum in the medium term following the increasing
deployment of POS (point of sale) solutions to facilitate in-store cashless

have observed a marked uplift in average transaction value when cash is replaced
by a mobile payment method.

By Team
[email protected]