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June 29, 2011

Worldwide mobile payments users to reach 2.5 billion by 2015: Juniper

Users from the Far East & China region will account for nearly 30% of the total

By CBR Staff Writer

The number of mobile phone users making payments for digital goods will reach 2.5 billion worldwide by 2015, up from 1.8 billion forecast for 2011, which represents a growth of 40%, according to analyst firm Juniper Research.

The research firm found that mobile tickets for two of the key sectors, which include transport and entertainment, were influencing growth although new service and application adoption will also be very important.

Juniper Research Senior analyst said whilst the mobile payments sector offers substantial growth opportunities, it needs to be seen by innovative players as a platform from which to develop new value added applications and services such as personalised mobile coupons, loyalty schemes, and novel augmented reality offerings.

The Juniper report, however, also warned that fraud levels with certain types of payments such as PSMS and direct billing are on the increase with mobile security becoming a key issue in the near future.

Users from the Far East & China region will be the largest, accounting for nearly 30% of the total by 2015; while the Indian sub-continent is forecast to exceed 400 million users by 2015.

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