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Payments projected to reach 2.5B users by 2015

More than 2.5 billion wireless subscribers are expected to use mobile payment services by 2015, according to a new report from Juniper Research. Representing a 40% growth rate from 1.8 billion projected users this year, the firm said tickets for transportation and entertainment are two key factors driving the surge.
“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 personalized mobile coupons, loyalty schemes, and novel augmented reality offerings,” senior analyst David Snow wrote.
The report also noted that fraud is on the rise with certain types of mobile payments like direct billing, which will prompt a more comprehensive approach to mobile security throughout the industry.
By 2015, nearly 30% of all mobile payments users are expected to be in the Far East and China and the Indian subcontinent is projected to exceed 400 million users.

ABOUT AUTHOR

Matt Kapko
Matt Kapko
Former Feature writer for RCR Wireless NewsCurrently writing for CIOhttp://www.CIO.com/ Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.