Mobile Payments $1.13 Trillion in 2014

Global Mobile Payments transactions to rise to $1.13 trillion in 2014, a CAGR of 94.8%
Mobile payments continued its stellar growth in 2009 with the total number of users increasing to 351.4 million

Globally, we are expecting the number of mobile payment users to rise to 1.06 billion in 2014 for a CAGR of 20.5 percent.

On the transaction value side, the gross value of mobile payments transactions was $37.4 billion in 2009. We expect mainstream take-up of mobile payments to happen in the 2011 - 2013 time frame. Our forecast is that in 2014, the gross value of mobile payment transactions will reach $1.13 trillion.

SMS accounted for 76.4 percent of mobile payment transactions in 2009. This is expected to decline to 58.7% in 2014.

Ease of use, ubiquity, and minimal network investments means that SMS will continue to be the transaction technology of choice for mobile operators and users, the report suggests.

3Q.2010 Global Mobile Payment Market Forecast, 2010 - 2014: Global mobile payments users to exceed one billion by 2014 with over $1 trillion in transactions taking place in that year