According to the report, the strong growth which is set to take user numbers to 580 million by the end of 2014, up from 393 million in 2012, is the direct result of greater consumer confidence in the mobile device as both a content browsing and payment mechanism. It also reflects the increasing importance of mobile as an eRetail channel, with retailers witnessing a marked uplift in mobile as a proportion of online transactions.
The report has also found that both the average size and scale of purchases would continue to rise markedly, bolstered by larger volumes of regular, higher-value transactions such as the weekly shop. However, the report has warned that growth continued to be constrained by the fact that a majority of retailer sites are still not optimised for mobile browsing, registration or purchasing.
Furthermore, the report has pointed out that concerns about transaction security were still paramount amongst end users, although the scale of these concerns was not yet being translated into consumer adoption of security solutions on the handset.
Finally, the study has found that the total annual transaction values from remote digital and physical goods purchases will hit USD 730 billion within five years, with eRetail migrating to smartphones and tablets. Additionally, operator billing deployments are becoming more widespread, but are currently limited to digital purchases
The report titled “Mobile Payments for Digital & Physical Goods: Opportunity Analysis 2012-2017” was issued by UK-based research firm Juniper Research.
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