Gartner: Worldwide mobile payment transaction will hit US$235b this year

Wed, Jun 5, 2013: In Gartner’s recent report of “Forecast: Mobile Payment, Worldwide, 2013 Update”, worldwide mobile payment transaction is forecasted to increase 44 per cent to US$235.4 billion (RM728.4 billion) by 245.2 million mobile payment users in 2013 compared with US$163.1 billion (RM504.7 billion) in 2012. There were only 200.8 million mobile payment users in 2012.

The report shows money transfers and merchandise purchase will contribute 71 per cent and 21 per cent of total transaction value this year. Consumers still spending less via mobile devices due to mobile shopping experience has not been optimized. However, only 2 per cent of total transaction value is forecasted made from Near Field Communication (NFC) because it is still struggling to gain traction in all markets.

Gartner forecasted that Asia/Pacific region will overtake Africa to become the largest region by mobile payment transaction value in 2016. This year, Asia/Pacific region is expected to grow at 38 per cent to reach US$74 billion (RM229 billion), thanks to the healthy growth found in South Korea, Singapore and India.

For more information, you can read Gartner’s report “Forecast: Mobile Payment, Worldwide, 2013 Update” at http://www.gartner.com/resId=2484915.

Author: VSDaily Editor

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