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Worldwide mobile payment use

There are only 1.3 billion active credit and debit accounts globally, but considering that there are more than 5 billion active mobile phone accounts, there is potential for widespread application of mobile payments, according to Omlis, a global mobile payments solutions provider.

By the end of 2013, there were about 245 million mobile payment users, and Juniper Research predicts this will almost double within the next three years up to 450 million mobile payment consumers by 2017. In terms of m-commerce value, Gartner predicts that total mobile payment transactions are expected to reach $507 billion in 2014. The global adoption of mobile payments is on an upward curve, but traction is dependent on consumers’ access to technologies, varying lifestyle choices, and economic factors.

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Source: TelecomAsia

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