Home / / Mobile transaction users to reach 2 billion by 2017

Mobile transaction users to reach 2 billion by 2017

Juniper Research predicts surge in number of users using mobile devices for commerce

Mobile transaction users to reach 2 billion by 2017
Mobile payments will gain in popularity, according to Juniper Research.

Juniper Research predicts that over two billion mobile device users will be making mobile commerce transactions by the end of 2017, compared to 1.6 billion this year.

The analyst company predicts that the number of mobile transactions including banking, money transfer and purchases of goods and services will surge as consumers either adopt new devices or switch away from desktop usage.

According to a new report from Juniper, Mobile Commerce Markets: Key Sector Strategies, Opportunities & Forecasts 2014-2019, in a number of developed markets, mobile devices would account for over half of online transactions within five years. The report also predicts that contactless payments will increase in uptake, driven by services such as Apple Pay.

Juniper also said that mobile will offer consumers in emerging markets first-time financial inclusivity through the provision of mobile wallets, enabling services beyond payments such as savings and micro-insurance.

Meanwhile, the report highlighted the potential of social networks in accelerating mobile commerce adoption. According to report author Dr Windsor Holden: "Brands and retailers should certainly seek to integrate their offerings with players such as Facebook and FourSquare. Integration offers reach, allied to the potential to target specific user demographics."

Follow us to get the most comprehensive consumer tech news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018