Mobile Payments Will Reach $245 Billion by 2014

According to 2011 data from Ernst & Young, mobile payments are expected to reach $245 billion in transaction value by by 2014. The actual forecast transaction is probably not so important. 


Neither is the forecast number of mobile money users are expected to total 340 million, equivalent to about five percent  of global mobile subscribers.


Perhaps the more-important issue are the categories of mobile money Ernst & Young believe offer revenue potential for mobile service providers globally. 

Mobile payment technologies and scenarios¹

	SMS	NFC	Mobile internet
Payment type	Person-to-person Person-to-business Business-to-person	Person-to-business Business-to-business	Person-to-person Person-to-business
Use case	Domestic remittance International remittance Branchless banking	Contactless payments Identification- and marketingrelated services	In-app payments Mobile wallet transactions
Characteristics	Payment services for the unbanked and underbanked	High levels of cross-industry collaboration	Extension of online payment services
Examples	Salary payments (Roshan, Afghanistan) Money transfer (M-PESA, Kenya; Obopay)	Transit payments (Mobile FeliCa, Japan)	Mobile wallet (Paypal, Zong, Starbucks)
Payment providers and enablers	Start-ups Mobile operators Money transfer companies Handset manufacturers	Card issuers Mobile operators Handset manufacturers Merchants Start-ups	Web services players Start-ups Mobile operators Merchants
Mobile operator participation	High	Medium	Low