Mobile payments to exceed $300 billion globally by 2013

A new report by Juniper Research states that the gross transaction value of payments made through mobile phones for digital goods such as music, tickets and games and physical goods including gifts, clothes and books is set to surpass $300 billion globally within the next five years.

Retailers should take a serious look at the benefits of the mobile web and consider the success of regular ecommerce sites in generating profitable sales. It also shows a significant opportunity for mobile payment services, systems, software and other supporting services to strengthen processing of payment transactions.

The report, available on www.juniperresearch.com, provides six year regional forecasts of mobile payments for digital and physical goods, transaction sizes and volumes, provides data on subscriber take-up and details case studies from companies pioneering in this market.

Another highlight of the report is that the ticketing segment is expected to be driven by consumer usage on rail, air and bus networks as well as entertainment events, which will represent over 40% of the global transaction value. The two regions of the Far East and Western Europe are believed to represent over 60% of the $300 billion value.