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Secure Transactions News

US$ 1 trillion in mobile transactions in 2014

Thursday 24 February 2011

As a consequence, “banks, mobile operators, card networks and retailers (…) will need to come up with more creative schemes than per-transaction fees,” says Nick Holland, author of the report.

Findings of the report include:

  • Asia-Pacific overtakes EMEA as the mobile banking powerhouse: In 2010, EMEA leads all regions with 42% of worldwide active mobile banking users, followed by Asia-Pacific (38%), North America (16%) and Latin America (4%); but by 2014, Asia-Pacific leads with 54%, followed by EMEA (32%), North America (10%) and Latin America (4%).
  • Mobile coupon usage explodes: The number of active mobile coupon users is expected to grow from 2.7 million in 2010 to nearly 35 million in 2014.
  • Near field communications (NFC) takes off: The number of NFC-enabled phones will grow from just 834,000 in 2010 to 151 million in 2014, a CAGR of more than 300%. Similarly, the value of NFC-based transactions will explode from US$ 27 million (EUR 20 million) in 2010 to US$ 40 billion (EUR 29 billion) in 2014.