Mobile Payments in 2017

This article is written based on the report “Mobile payments for digital and physical goods: 2012-2017 Analysis of opportunities”, which was released on the British research firm Juniper Research.

The cost of the transactions in the digital and physical goods purchased via mobile devices is expected to exceed 2017 dollars 730 billion annually.

According to the report, the growth of transactions will depend on the size of retail purchases of non-digital products of various brands and companies. Companies in the UK have already noted that at present 6-7 per cent of all sales occur through the mobile channel.

In addition it is reported that continues to increase the number of purchases made through tablet computers. Expected significant migration of buying activity from notebooks and desktops to tablets and mobile devices, and consumers are increasingly likely to make online purchases while watching TV. Indeed, the researchers found that this trend called “store on the couch” will lead to the need for tablet and mobile devices. And, according to forecasts, in the next five years, the number of purchases made by tablet computers and mobile devices will be 30 per cent of all retail e-commerce. However, such transactions will continue to be a small amount of the total global retail sales, the amount of which is scheduled to exceed 16 trillion dollars.

The report also showed the growing importance of the mobile device (device) as a “hub” (“hub”), which includes both online shopping and traditional (physical) purchase. (Hub (Hub) – it is a network device that connects multiple computers local area network and provides their interactions with each other and to the rest of the network and to the Internet. All users connected to a hub share the available bandwidth of the network (as opposed to switches that provide full bandwidth for each PC). – Author’s note).

Sales of digital products continue to grow in tandem with the growth in sales of smartphones and tablets (in particular an increase in sales of products related to lifestyle and infotainment applications), at the same time the safety of all of the transactions on goods still remains a problem for consumers.

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