Tag: mobile payments data

Mobile payments could break the $1 trillion mark in three years

Mobile Payments 1 TrillionThe latest Heavy Reading report has revealed its latest predictions for the market for 2015.

The popularity of mobile payments is already growing, despite a rather slow and rocky start, and according to Heavy Reading Mobile Networks Insider, this has set the market on the path to breaking the $1 trillion mark in transactions by the close of 2015.

The industry is also at the point that it is growing quickly and is creating heavy competition even before becoming mainstream.

The mobile payments industry is now offering a vast array of different solutions for generating revenue. This latest Heavy Reading report has forecasted that within the next three years, the market will have skyrocketed to the point that its transactions will have been worth more than $1 trillion, worldwide.

The report has also predicted that mobile payments will be an important factor in the success of m-commerce.

It looked into mobile payments as a whole and came up with a number of predictions in terms of market drivers in addition to the challenges that this industry could face. It also performed a comparative analysis of the various types of solutions that have become available within this ecosystem and attempted to provide details regarding the types of trends that are likely to happen if the industry continues in the same direction over the upcoming year and a half to two years.

According to Heavy Reading report author, research analyst Denise Culver “Mobile payments have gone from being a cool-to-talk-about concept to a disruptive technology in a relatively short time frame.” She went on to say that “MNOs and payment vendors should be looking at different ways to drive demand for mobile payments, which have the potential to create significant revenue throughout the entire mobile ecosystem.”

Some of the report’s data has indicated that consumers that are already comfortable with making payments online, such as for purchasing products and services and for paying their bills, are among those who are already using their smartphones and tablets for these same tasks. Culver has predicted that as the penetration of these devices continues, it will be “only natural” that these same individuals will increase their desire and likelihood to apply those devices for transaction purposes.

Mobile payments to break the $114 billion mark in China

mobile payments chinaA new research analysis predicts that this achievement will be made by 2015.

The Chinese mobile payments marketplace is starting to show some very promising figures that are suggesting that this could be one of the dominant worldwide players and that it may be one of the examples that are set for other countries regarding the way in which the technologies can be adopted successfully.

The data from a recent report has indicated that China could be ready for an explosion in this area.

Analysys International, a market research firm, has now released the results of its most recent analysis, which has indicated that by 2015, the mobile payments made within the People’s Republic of China will break the $114 billion mark (CNY712.3 billion). This would mean that in two years, the transactions over that channel will be greater in that nation than in any other country in the world.

The mobile payments report also indicated additional achievements within the next two years.

Beyond the total value of the transactions themselves, Analysis International is also projecting that by 2015, the payments made over third party internet platforms will reach $2.24 trillion (CHY 13.92 trillion), as per the report that was made in China Tech News.

Once the 2012 license structure was fully implemented, companies offering third party transactions started to boost their presence within the mobile payments marketplace. Furthermore, a growing number of traditional payment organizations are beginning to take their first steps into the digital environment, which is boosting the need for those third party providers. This increase in the number of opportunities is further encouraging the growth of the number of those enterprises.

Similarly, the report explained that the recent establishment of the mobile payments standards are having a considerable impact on the marketplace. This made it possible for foreign investors to be able to take their own steps into the smartphone and tablet marketplaces. This is allowing for a much more rapid development of the technology and is boosting the public awareness. The result is that device users are building their acceptance of the transaction method and are starting to choose those options when it comes time to make a purchase.