Forecast: Mobile payments to yield $22B by 2011

Mobile subscribers are poised to generate over $587 billion in wireless financial transactions by 2011, according to a new report issued by Juniper Research. According to Juniper, mobile financial services are rolling out at a frequency similar to the web banking "gold rush" of the 1990s. More than 612 million mobile users will embrace some form of mobile financial services by 2011, with mobile payments expected to yield almost $22 billion following adoption by 204 million wireless subscribers. "A combination of increased user demand and a desire from all sections of the [mobile financial services] ecosystem to deliver intelligent applications and services has created an atmosphere that is both creative and pragmatic," said report author Alan Goode in a prepared statement.

For more on the Juniper report:
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