Mobile payments users will reach 2.5 billion by 2015

NFC to make bigger impact than first thought

With Premium SMS and ticketing already on the rise, NFC is just one more catalyst in making sure we reach for our phones, not our wallets.

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.

Does contactless payment appeal to you, or are cards and cash more than enough? Join the debate at Facebook and Twitter.

Source: Juniper Research