Mobile Payment Use Expands, Says Juniper

A report by analyst firm Juniper Research forecasts that the number of mobile phone users making payments for digital goods will reach 2.5 billion worldwide by 2015, up from 1.8 billion forecast for 2011. This represents a growth of 40 percent.??

Mobile tickets for transport and entertainment were found to be two of the key sectors influencing growth although new service and application adoption will also be very important.??

Juniper senior analyst David Snow said in a statement: “Whilst the mobile payments sector offers substantial growth opportunities, it needs to be seen by innovative players as a platform from which to develop new value added applications and services such as personalised mobile coupons, loyalty schemes, and novel augmented reality offerings.”??

However, the Juniper report also warned that fraud levels with certain types of payments such as PSMS and direct billing are on the increase with mobile security becoming a key issue in the not too distant future.

Further findings from the Mobile Payments for Digital & Physical Goods report shows:

• ?The Far East & China region will be the largest, accounting for nearly 30 percent of the total by 2015;?
• The Indian Sub-Continent is forecast to exceed 400 million users by 2015.