Payments made using mobile web devices are expected to surpass $900 billion (£565 billion) by 2015, according to a new report. Author: Joe Elvin
Payments made using mobile web devices are expected to surpass $900 billion (£565 billion) by 2015, according to a new report.
Figures gathered by KPMG have indicated that the amount of money spent using tablets and smartphones is expected to almost double within the next three years.
It was suggested that the growth of near-field communications, which allow mobile users to connect with adverts and posters and buy a product immediately, will play a huge role in the proliferation of m-commerce.
The report may encourage businesses to cash in on this trend by adding online payment solutions to their company website.
In an interview with mobilepaymentstoday.com, KPMG senior manager David Hodgkins was keen to explain other factors which would fuel the m-commerce boom.
“Growth in the m-payments marketplace will be driven by customers increasing need for convenience and the development of a raft of new applications enabling commerce in the palm of our hands,” he said.
According to Fresh Business Thinking, the report indicated that smartphones accounted for 29 per cent of mobile phone sales in 2011, which is almost double the proportion in 2009.
What’s more, just two per cent of retailers polled believe that m-commerce will have no bearing on their business in the coming years.