According to a report entitled ‘Mobile Payment for Digital & Physical Goods: Opportunities & Forecast 2014-2018’ released by research company Juniper Research, annual retail payments on mobile handsets and tablets are expected to reach USD 707 billion by 2018. This compares with mobile retail spend of USD 182 billion last year, when mobile accounted for around 15% of e-retail.
The report also revealed ‘Cyber Monday’ in 2013 saw retail sales via mobiles and tablets approach USD 400 million in the US alone.
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