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MOBILE PAYMENTS TO REPLACE CASH BY 2016.

Mobile Payments To replace Cash by 2016.

 


Mobile Commerce Payments Research & Statistics (2010 – 2011)

Mobile payments (m-payments) are when consumers make a purchase using a mobile phone instead of using cash, credit card or debit. Types of mobile payments include direct billing, SMS transactions and mobile Web payments. These mobile commerce research and statistics will help you understand what’s happening in the mobile payment industry.
  • Worldwide mobile payment volume is forecast to total $86.1 billion, up 75.9 percent from a 2010 volume of $48.9 billion. (Source: Gartner Inc.; Market Trends: Mobile Payments Worldwide, 2011)
  • Recent data from the U.K. arm of Forrester Research, in partnership with PayPal, estimates that mobile payments will replace other forms of payment by 2016.
  • PayPal raised its 2011 Mobile Total Payments Volume (TPV) projections to $3 billion. (Source: PayPal Blog; PayPal Doubles Mobile Payments Predictions to $3 billion in 2011 by Laura Chambers)
  • Overall, mobile payment services are expected to reach $245b in value worldwide by 2014. At the same time, mobile money users are expected to total $340m, equivalent to 5 percent of global mobile subscribers. (Source: Ernst & Young; Opportunities for telcos in mobile money: 2011)
  • E-payments and m-payments collectively accounted for an estimated 22.5 billion transactions in 2010. E-payments (online payments for e-commerce activities) are expected to grow globally to 30.3 billion transactions from 17.9 (in 2010-13), while m-payments are expected to grow globally to 15.3 billion transactions from 4.6 billion in the same period.  (Source: Capgemini; World Payments Report 2011)
  • It is anticipated that this will begin to change in 2011 as the number of mobile payment users starts a significant run up from 116 million to over 375 million in 2015. (Source: In-Stat; Mobile Payments: Is the Market Ready?)
  • The potential for mobile payments is huge. Estimates for the volume of those transactions vary widely but share a consensus that mobile payments will see sizable growth this year and accelerate rapidly in 2012. (Source: eMarketer; Mobile Payments — Moving Closer to a World Without Wallets)
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