62B mobile banking transactions in 2012

IMS Research predicts users of contactless mobile payments, mobile banking and over the air transactions will reach nearly 900 million by 2012.
Those subscribers will complete 62 billion transactions in 2012, said the research firm’s latest report.
IMS Research noted that mobile penetration in several developing markets actually exceeds banking or fixed line infrastructure, which means mobile is often the only method of access available to subscribers in those markets. Several carriers, including Orascom, NTT DoCoMo Inc., KTF, Vodafone Group plc, Globe, Smart, TIM, AT&T Mobility and Sprint Nextel Corp., have announced mobile financial services, said IMS.
“The early seeds sown by a handful of companies have started to grow and now serious backing is being provided by both the financial and operator communities,” said John Devlin, research director at IMS Research. “Service growth to date is already strong and taking off across a number of markets in Asia, the Middle East and Africa. When coupled with the growing volume of rollouts and service launches in Europe and the Americas, the number of new users nearly tripled in 2007.”