According to a recent report from Aite Group, an independent research and advisory company, the mobile proximity payment transaction volume is expected to reach USD 487 billion by 2020.
The study also unveils that in 2014, the transaction volume of mobile proximity payments hit USD 3.2 billion, and that in 2015 is expected to more than doubled, with USD 7.5 billion transaction volume.
Furthermore, the report suggests that mobile proximity payments transactions are expected to more than double their volume year-on-year, thus topping USD 22.4 billion by 2016, USD 50 billion by 2017, USD 107.7 billion by 2018, USD 226.6 billion by 2019.
The report is based on interviews with over 50 opinion leaders, chief executive officers, and business managers. It describes the technologies, introduces major players, identifies issues and important lessons learned, and forecasts the growth of the mobile proximity payment ecosystem for the next five years.
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