Insight On Mobile Payments Market

Date: 9/6/2010

Mi-Pay features in the latest Mobile Payments Report from Juniper Research. The study, published in May 2010, forecasts that the value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach almost $630bn by 2014, up from $170bn this year.

It also reveals that, in developing markets, SMS driven money transfer services are the main driver, increasing at a rate of 30% per annum.

Mi-Pay, with its comprehensive portfolio of PCI certified mobile payments channels and transfer services, is well placed to take advantage of the extensive growth expected in this sector.

Key messages from the report include:

• The top 3 regions for mobile payments (Far East & China, W. Europe and N. America) will represent nearly 70% of the global mobile payment gross transaction value by 2014.
• Vendors, retailers, merchants, content providers, mobile operators and banks are all actively establishing new services and schemes.
• However, in some areas such as NFC for example, greater collaboration is required to establish a widely accepted business model that translates easily into tangible services.

The study provides a big picture view of mobile payments, providing forecasts of the main market segments of digital and physical goods purchases, contactless NFC and national and international money transfers and remittances, providing regional forecasts of gross transaction values.

Whitepaper and further details of the study, Mobile Payments Markets: Strategies & Forecasts 2010-2014 are available to download from www.juniperresearch.com.