Juniper forecasts mobile payments to reach $630B by 2014

The worldwide mobile payments market--including purchases of digital and physical goods, money transfers and NFC transactions--will grow from $170 billion in 2010 to almost $630 billion in 2014 according to a new forecast issued by Juniper Research. Citing growing smartphone adoption and increased app store traffic as catalysts behind the increase, Juniper also expects SMS-based ticketing schemes and mobile shopping efforts to boost the m-payments market in developed nations, while in developing regions, SMS-driven money transfers will increase at a rate of 30 percent year-over-year. Juniper adds that the top three regions for mobile payments--the Far East & China, Western Europe and North America--will represent nearly 70 percent of the global mobile payment gross transaction value by 2014.

For more on the Juniper forecast:
- read this release

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