5 Jul 2011: A new study from Juniper Research claims to have determined that the total merchandise value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year.

The new Mobile Payment Strategies report forecasts 200-300% growth in all segments of the market over the next five years, driven principally by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers.

Some 20 countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50bn worldwide by 2014. Meanwhile the need for financial access in developing countries is such that active mobile money users will double by 2013 and drive transaction values accordingly, says the report.  

The study also highlights the top three regions for mobile payments  as the Far East & China, Western Europe and North America and says these three regions will represent 75% of the global mobile payment gross transaction value by 2015.

Digital goods payments will account for nearly 40% of the market by 2015.