Moreover, the highest growth rates are expected in the NFC sector, where usage is expected to be buoyed by the launch of Apple Pay, together with a host of anticipated deployments by banks using solutions based on HCE (Host Card Emulation) technology, according to the Mobile Commerce Markets: Key Sector Strategies, Opportunities & Forecasts 2014-2019, report issued by the market intelligence provider Juniper.
However, the highest net increase in transaction volumes will occur in the digital goods sector, fuelled by a surge in micropayments for in-app purchases, notably within arenas such as social gaming.
Dr Windsor Holden, author of the report, claims that physical stores implementing carrier billing solutions have registered positive results across a range of indicators, such as higher conversion rates, higher average transaction values or higher transaction volumes. Additionally, bricks can now monetise consumers who would otherwise have been excluded either because they lacked a credit card or because they were unwilling to enter card details online.
There is significant transactional migration from desktop to mobile as consumers increasingly make purchases on their devices while watching TV. Rather than focusing purely on payments, stakeholders need to emphasise the synergies between mobile payment and loyalty to persuade retailers to become engaged.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
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