Mobile payments to hit $1 trillion by 2017?

IDC Financial Insights has issued a new report on the future of mobile payments & the future is bright. According to the report Mobile Payment volume over mobile devices will exceed $1 trillion by the year 2017
 
 
page 2
page 2
 
Spread the Word
Listed Under

Tags:
* Mobile Phones
* App
* Apple
* Android

Industrys:
* Mobile
* Business

Location:
* Brompton - Cambridgeshire - UK

Subject:
* Products

Nov. 23, 2012 - PRLog -- We are all use to playing games on our phone, angry birds itself is the biggest selling game for mobile devices, but over the past year we have seen an acceleration of what’s being dubbed m-commerce.  M-commerce is when someone actually buys a product or services through a phone or tablet.

IIDC Financial Insights has issued a new report on the future of mobile payments & the future is bright. According to the report Mobile Payment volume over mobile devices will exceed $1 trillion by the year 2017.

But according to Aaron McPherson, practice director for Worldwide Payment Strategies at IDC, that's just a drop in the overall transaction bucket.

"Even at a trillion dollars that's a big sexy number in the grand scheme it's not that much," McPherson said in a call with Mobile Payments Today. "It's clear that (mobile payments has) a long ways to go," he said.

McPherson said the total mobile payments market will represent only a small fraction, just 2.5 percent, of the total transaction volume that mobile payments could, at least theoretically, address. He said that number, which includes cash, check, ACH and cards, is closer to $50 trillion.

Even with that caveat, however, McPherson said mobile payments growth will continue to accelerate.

McPherson also noted that a couple of results from his research surprised him a little. "One of the things that jumped out at me was just how big (m-commerce) is," he said. He explained that most of the money being attributed to "mobile payments" is actually money being spent through m-commerce, meaning consumers shopping from a mobile device instead of online or in a store. "It's a much higher percentage of the total than I was expecting," he said.

To find out more about mobile apps for your business  visit  http://www.easyappbusiness.com.

Tell Me First – the Best in New Technology

UK : +44 (0) 208 144 2025

USA : 262 299 4501
End
Source:Easy App Business
Email:***@tell-me-first.com Email Verified
Phone:+44 (0) 208 144 2025
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Tell Me First News
Trending
Daily News
Weekly News



Like PRLog?
9K2K1K
Click to Share