Juniper Research estimates in a recent study that mobile phone and tablet users will make 195 billion mobile commerce transactions per year by 2019. This represents a huge jump over the 72 billion mobile commerce transactions expected this year.
With smart phones saturating the mobile phone market there will be an expansion the use of the features on these devices. Juniper’s report expects to see the highest growth rates in the NFC sector, “Here, usage is expected to be buoyed by the launch of Apple Pay, together with a host of anticipated deployments by banks using solutions based on HCE (Host Card Emulation) technology.”
Juniper is expecting to see the largest increase in transaction volumes will occur in the digital goods sector, where they foresee a “surge in micropayments for in-app purchases, notably within arenas such as social gaming.”
As businesses improve user experiences for mobile applications during the mobile application development process, customers will be more comfortable making purchases and not only volumes of transactions will increase but also amounts. But beyond the applications them selves there are a number of factors that will drive growth. Industry innovations will also push the growth of mobile transactions as Walgreens mentioned its mobile wallet payments doubled after Apple Pay came out. Additionally once we see facilities for NFC payments in quick-shopping locations, such as at gas pumps, the growth will skyrocket.