Mobile transaction users to surpass 2 bln by 2017: report

Over two billion mobile phone or tablet users will make some form of mobile commerce transaction globally by the end of 2017, up from 1.6 billion this year, a research showed by Juniper Research Monday.

According to the report, mobile consumption of services such as banking, money transfer and purchases of goods and services was surging as consumers were either migrating from desktop usage or becoming first-time e-Commerce users through their smart phones or tablets, said the Britain-based high-tech industry research company.

The report found that in a number of developed markets, mobile devices would account for over half of online transactions within five years.

It was also observed that while contact-less payments had yet to gain traction outside Japan and South Korea, Apple Pay, a modern payment service offered by Apple Inc., was expected to provide NFC with real momentum, said Juniper.

The company stressed the opportunity for mobile to offer consumers in emerging markets first-time financial inclusivity through the provision of mobile wallets, enabling services beyond payments such as savings and micro-insurance.

Meanwhile, the report highlighted the potential of social networks in accelerating mobile commerce adoption. And it also recommended the integration of operator billing capabilities with websites to monetize digital content among a wider user base.