Mobile Payments Take Hold Around the World

Transactions will total nearly $1 trillion by 2014

A sixfold increase in the volume of mobile payment transactions is on the way in the next four years, according to one research firm.

A forecast from Yankee Group predicts the worldwide transaction value of mobile payments will total $984 billion by 2014, up from $162 billion last year. That includes transactions from mobile banking, international and domestic remittances, contactless cards, mobile coupons and near-field communications.

Mobile Payment Transaction Value Worldwide, 2010 & 2014 (billions)

Mobile is growing. Is your business preparing to make it convenient to do business with you through their mobile devices?

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