Research from Gartner says that this year will see more than $171.5 billion in mobile payment transactions — a rise of over 60 percent on 2011′s $105.9 billion — with 212.2 million people (up 32 percent from 160.5 million in 2011) using some form of mobile payment service. And what’s fueling the rise? Despite the rise of smartphones, it’s legacy-based services like SMS and web-based transactions. Read more – ‘Mobile Payment Users on the Rise Says Gartner’.
Mobile payment is being adopted all over the world in different ways. Combined market for all types of mobile payments is expected to reach more than $600 billion globally by 2013, which would be double the figure as of February, 2011, while mobile payment market for goods and services, excluding contactless NFC transactions and money transfers, is expected to exceed $300 billion globally by 2013. Read more – ‘What is a Mobile Payment?’.