Mobile commerce – as in paying for goods like food, clothes, CDs and DVDs on your mobile phone – will explode over the next four years. At least that’s what Juniper Research is claiming.
The research company’s latest market report forecasts that by 2011 around 52 million consumers will adopt new technologies like NFC (Near Field Communication) and other mobile payment methods for everyday purchases. It reckons the market will be worth $11.5bn by this point, which isn’t exactly small change.
Other findings from the report claim that mobile payment applications and services already get favourable user feedback in trials and commercial roll-outs, and that retailers and handset manufacturers in the Far East (surprise, surprise) and the US are already receptive to using NFC and other technologies.
Mobile commerce has been slow to take off so far, with people like Amazon available via operator mobile internet portals, but it seems that just like other mobile technologies, it could only be a matter of time before our phones replace our wallets.
[Juniper Research]
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