M-payment users to grow by 40% by 2015

Mobile phone users making payments for digital goods will reach 2.5 billion worldwide by 2015, up from 1.8 billion forecast for 2011, according to the latest research. This represents a growth of 40%, said a new report by analyst firm, Juniper Research.

Mobile tickets for transport and entertainment were found to be two of the key sectors influencing growth although new service and application adoption will also be very important.

Senior analyst at Juniper, David Snow, gave more details: “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.”

However, the Juniper report 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 not too distant future.