Use of mobile payment services is set to increase over the next four years, a new report indicates.
Research from Gartner reveals that some 103.9 million people are set to make payments on mobile devices by 2012, with the figure reaching 32.9 million by the end of this year.
Sandy Shen, research director at Gartner, said that revenue opportunities could be available to banks as well as carriers if mobile payment options are deployed effectively.
"The business case is more obvious for mobile carriers than banks; however, banks can justify the investment if they look at mobile as an extension of their existing channels and bundle payments with additional banking services," she recommended.
ABI Research figures suggest that 31 per cent of all mobile device sales will represent smartphones in five years time - the devices currently have a market share of 2013.
While such a development could boost mobile payments, wireless application protocol, unstructured supplementary service data and near field communications are also set to grow, competing with short message service as a mobile payment technology.
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