M-commerce 'could hit $40bn by 2016'

M-commerce 'could hit $40bn by 2016'

Fees from m-commerce transitions could increase tenfold to almost $40bn by 2016, according to new research published by Informa.

The research claimed the biggest opportunity for service revenues would be through mobile remote payments for physical goods and services, as well as international mobile money transfers. Service revenues from m-commerce were $4bn in 2011 but Informa predicted this will reach $36bn by 2016.

The report said ebay's sales from mobile payments now account for more than 10% of its total purchases in the United Kingdom. Informa predicted there would be greater competition between operators, banks and credit card companies as they try and capitalise on the forthcoming growth in m-commerce.

Informa Telecoms and Media senior analyst Shailendra Pandey said: 'Currently the majority of m-commerce transactions – including mobile banking, remote and local payments, and money transfers – are conducted using SMS, especially in developing markets.

'In the next five years, traffic will shift steadily onto more secure and lower-cost bearers, such as USSD (Unstructured Supplementary Service Data) and packet data, mobile applications, and NFC in the case of local payments, with a corresponding fall in service revenue per transaction.'

Written by Mobile Today
Mobile Today

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