14 DAY TRIAL // Mobile banking is expected to become one of the most popular services available for handset users, it seems, but this is not all. According to a recently published study from Juniper Research, almost 50 percent of all mobile phone owners around the world are to make mobile payments for digital and physical goods by 2014. Moreover, the report also shows that the growth in the area should be of around one billion users, when compared to the ongoing year.
According to Juniper Research, segments like ticketing and payments for physical goods are registering a massive increase, mainly due to the fact that there are applications for this, but also courtesy of the emergence of multi-lingual versions of platforms such as eBay. The research firm states that mobile payments are now included in a wider web shopping experience, along with browsing, coupons and advertising.
The report shows that segments such as ticketing and payments for physical goods are being spurred by the phenomenal take-up of apps coupled with the availability of multi-lingual versions of platforms such as eBay. Mobile payments are now becoming integrated into a wider mobile web shopping experience that includes browsing, coupons and advertising.
“Since our last report a recent trend we're seeing is the launch of mobile storefronts and malls, as well as new Smartphone apps and mobile payments services from companies such as eBay, Amazon and Digby. Based on the take-up figures we've seen, users appreciate the convenience,” Howard Wilcox, author of the report, commented.
At the same time, Juniper Research notes that the traction towards mobile payments is greatly influenced by the user experience, which should be enjoyable, easy and consistent. The lack of user support and help might affect the growth in this segment. However, the increase is not expected to occur only in developed markets. More than 500 million users in the Indian Sub Continent should make mobile payments in 2014, Juniper Research concludes.