Forecast: Mobile payments market to reach $670B by 2015

Mobile payments for digital and physical goods, mobile money transfers and Near Field Communications-enabled contactless transactions will almost triple from $240 billion in 2011 to $670 billion in 2015, Juniper Research forecasts. The firm credits the accelerating adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers in both developed and emerging markets as the catalysts behind the expected growth, adding that the number of mobile money users will double by 2013.

Juniper anticipates that the top three regions for mobile payments--the Far East and China, Western Europe and North America--will together represent 75 percent of global mobile payment gross transaction value (both purchases and transfers) by 2015. Roughly 20 international markets are expected to launch NFC services during the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014, Juniper states; digital goods payments remain the largest driver, however, and will account for nearly 40 percent of the worldwide mobile payments market by 2015.  

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