Mobile Payments $1 Trillion Globally by 2017
Businesses and consumers will make more than $1 trillion in purchases (globally) by 2017, according to IDC a market research firm.
IDC predicts that the vast majority of these payments will come from mobile commerce, which includes things like making purchases through a company’s mobile website, apps, and more. NFC payments will account for a significant chunk as this technology comes to more smartphones and retailers upgrade to point-of-sale terminals (POS).
Aaron McPherson, IDC’s practice director of worldwide payment strategies said in a statement,
“The growing prevalence of smartphones is enabling a variety of mobile payment methods, which combined are becoming a significant share of global commerce,”
“We expect growth rates to continue to accelerate as consumers and retailers become more comfortable with the technology.”
While $1 Trillion might sound like a lot, in this regard IDC points out that it’s only 2.5% of the TOTAL Global Payments that could potentially be processed through mobile devices by 2017.
Best,
Kevin
Kevin is an Online and Mobile Marketing Strategist who has worked with companies of all sizes over the last 6 years. You can follow Kevin on any of the social platforms below.
