Tech research analysts Juniper Research have revealed figures predicting that by 2015, the number of people using mobile payment services will have risen by 40% to 2.5 billion.
This staggering number is in part down to an increase in Premium SMS and transport ticketing services which allow us to buy train and plane tickets on our mobiles and then use the devices as a digital ticket.
Combine that with the growing number of NFC-enabled handsets which allow contactless payment and those figures suddenly start to make more sense.
It is, however, not without its risks, with Juniper also warning that while growth is positve, we could also see an increase in fraud levels, highlighting the need for serious changes in how our mobiles are kept secure.
Source: Juniper Research