Mobile payments market expected to reach USD278.9bn by 2018

Mobile payments set to finally take off?

According to a new market research report the mobile money and payments market is estimated to be growing at a CAGR of 82.4%. The study goes to great lengths to categorise the global market for mobile commerce, remittance, banking and payment through forecasting revenues and analysing trends.

The report also discusses the total Mobile Payments in terms of transaction value, total mobile money users and the active mobile money users forecast trends. The mobile transaction value is segmented based on industry verticals such as Banking and Financial Services, Telecommunication, Media and Entertainment, Hospitality, Consumer Goods & Retail and Other verticals. MarketsandMarkets also forecast the Installed base and unit shipments for NFC enabled devices over the period of 2013 -2018. The global Advancements, Business Models, Drivers, Restraints and Opportunities are also presented in the report.

The market for Mobile Money are expected to grow from USD13.8 billion in 2013 to USD278.9 billion by 2018.

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