The total value of mobile payments for digital and physical goods, money transfers and NFC transactions will reach $670 billion by 2015, up from $240 billion this year. That's according to a new study from Juniper Research.
Some 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014. Meanwhile, the need for financial access in developing countries is such that active mobile money users will double by 2013 and drive transaction values accordingly.
Senior analyst David Snow says: "Our analysis shows that emerging segments such as physical goods payments, NFC and money transfers will fuel market growth by a factor of 2.7 times by 2015. Digital goods is the largest segment and, although forecast to more than double, it is not growing as quickly as some of the newer segments.”
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