Report: Global mobile payments to rise 40% this year

Monday, April 14, 2014

A new report from Juniper Research has found that the value of global payments via mobile devices will reach around $507 billion this year, a rise of nearly 40% year-on-year.

The report – Mobile Payment Strategies: Remote, Contactless & Money Transfer 2014-2018 – found that growth would continue to be driven by purchases of physical goods via mobile devices. Average transaction sizes over tablets are already exceeding those via desktop PCs in many markets. It also observed that while spend via smartphones was increasing sharply, their primary function in retail was as search and discovery devices with the final purchase being made on the tablet.

Source: BizTech Africa (link opens in a new window)

digital payments, mobile finance