Global mobile payments to top $171 bn: survey

May 29, 2012
A woman looks at her mobile phone in Hong Kong. Worldwide mobile payments are expected to top $171.5 billion in 2012, a 61.9 percent increase from 2011, a research report said Tuesday.

Worldwide mobile payments are expected to top $171.5 billion in 2012, a 61.9 percent increase from 2011, a research report said Tuesday.

The Gartner study said the number of people using will reach 212.2 million in 2012, up from 160.5 million in 2011.

"We expect global mobile transaction volume and value to average 42 percent annual growth between 2011 and 2016, and we are forecasting a market worth $617 billion with 448 million users by 2016," said Sandy Shen, research director at Gartner.

SMS remains the dominant access technology in developing markets, said. In North America and , the biggest payment method is using smartphones on a Web page, a system known as WAP (Wireless Application Protocol).

Another system known as Near Field Communication (NFC), in which a consumer uses a smartphone that is read by a scanning device, will start to pick up from 2016, according to the report.

"NFC payment involves a change in user behavior and requires collaboration among stakeholders that includes banks, , card networks and merchants," said Shen.

Explore further: Asians make the most payments with mobile phones: research

Related Stories

Mobile phone data traffic 'to grow 10-fold by 2016'

November 7, 2011

As smart phones increasingly take over, mobile data traffic is surging, a study by Swedish telecom equipment maker Ericsson showed on Monday, saying such traffic is set to increase 10-fold over the next five years.

Mobile industry champions paying with phones

March 4, 2012

Paying with a mobile phone is gradually become a reality for consumers, with banks, telecommunications operators and Internet players all jumping in to offer payment options.

Nokia's mobile market share slips to 25%: Gartner

May 19, 2011

Nokia's share of the mobile phone market dropped to 25 percent in the first quarter of 2011, the lowest for 14 years, down from 30.6 percent at the same time last year, technology research group Gartner said on Thursday.

iPad, other tablets hit PC demand: Gartner

March 3, 2011

Apple's iPad and other Internet-connected media tablets are draining demand for laptops and notebook computers, research firm Gartner said Thursday, sharply lowering its worldwide PC forecast this year.

Recommended for you

Archaeologists discover Incan tomb in Peru

February 16, 2019

Peruvian archaeologists discovered an Incan tomb in the north of the country where an elite member of the pre-Columbian empire was buried, one of the investigators announced Friday.

What rising seas mean for local economies

February 15, 2019

Impacts from climate change are not always easy to see. But for many local businesses in coastal communities across the United States, the evidence is right outside their doors—or in their parking lots.

Where is the universe hiding its missing mass?

February 15, 2019

Astronomers have spent decades looking for something that sounds like it would be hard to miss: about a third of the "normal" matter in the Universe. New results from NASA's Chandra X-ray Observatory may have helped them ...

The friendly extortioner takes it all

February 15, 2019

Cooperating with other people makes many things easier. However, competition is also a characteristic aspect of our society. In their struggle for contracts and positions, people have to be more successful than their competitors ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.