Mobile transactions are expected to continue to gain popularity over the coming years and by the end of 2019, the dollar amount generated is expected to approach the 200 billion mark, according to Juniper Research (News - Alert). The number of mobile transactions is only going to grow, thanks in large part to the continued popularity of mobile devices such as the brand new iPhones and a new wave of iPads.
The report also cites new services such as Apple (News - Alert) Pay as being central to seeing mobile transactions continue to increase. Banks and other retailers also working with hosted development is going to make it that much easier for customers to use mobile applications to pay for almost everything.
While online shopping, and shopping in stores using services like Google (News - Alert) Wallet and Apple Pay is going to be impressive, Juniper says the big growth is going to be in the digital goods sector. A surge in micropayments for in-app purchases, such as in areas like social gaming are going to be spearheading this growth. Companies that offer applications that come complete with in-app purchases will see a rather big growth in the transactions they record over the next few years.
"Storefronts that have deployed carrier billing solutions have already seen positive results across a range of indicators - higher conversion rates, higher average transaction values, higher transaction volumes. For the first time, they can monetise consumers who would otherwise have been excluded either because they lacked a credit card or because they were unwilling to enter card details online.” Report author Dr Windsor Holden said in a recent statement announcing the findings.
One final report aspect showed that there has been and will continue to be a rather large transactional migration from desktop to mobile platforms. Consumers are also making quite a few purchases on their mobile devices while they watch television.
Edited by Maurice Nagle
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