LONDON-M-commerce transactions will ring up $51 billion in annual global sales by 2009, according to a report released Thursday by U.K. mobile analyst firm ARC Group.
The study indicates much of the revenue from mobile transactions will be driven by youth and prepaid markets that have traditionally been denied access to bank accounts and credit cards. These users have increasing disposable income, according to the report, and are likely to use a virtual debit service or “stored value account” to make purchases over their handsets.
But Paul Merry, the report’s lead author, also warns of potential roadblocks to m-commerce. To fully realize such revenues, obstacles such as infrastructure costs and software and hardware standardization issues must be overcome, Merry cautions.
