U.K.-based market researcher Juniper Research says payments over a mobile phone continue to rise.
That conclusion is in Juniper’s, “Mobile Payments for Digital & Physical Goods: Opportunity, Analysis 2012–2017.”
Juniper’s takeaway is, “the number of consumers purchasing physical goods remotely via their mobile handsets is expected to increase by nearly 50% over the next two years.” That number could be up to nearly 600 million people in those two years and reach over $700 billion in revenue in 2017, according to the report.
The main possible hindrances are a lack of mobile device browser optimization by retailers and consumer worries about the security of transactions done over mobile devices.
Not surprisingly Juniper also sees more merchants, products and service being made available via the mobile bazaar.
The report includes country level analyses, listing the U.S., U.K., Japan, China and Canada among many. A release explains, “Consumers increasingly expect to be able to buy their products and services via their smartphones and tablets. Companies which do not offer this option face falling behind their competitors.”