Mobile and tablet transactions to hit two billion by 2017

  • Posted by Talking Payments
  • November 24, 2014 11:57:28 AM GMT
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Mobile and tablet devices are set to significantly boost online payment volumes over the next three years.

According to a study by Juniper Research, the popularity of the devices has soared in recent years, with more consumers beginning to consider using them to make a payment. In fact, a huge 1.6 billion global payments have been completed via a mobile or tablet this year alone, as mobile banking and online shopping services have become better adapted for the devices.

The research has suggested that this trend will continue to grow in the coming years, potentially topping the two billion transaction mark by 2017. It’s believed that the increased awareness of contactless technology will be a huge factor in driving this growth, with new services such as Apple Pay expected to quickly become part of consumer’s daily routine.

Brands and retailers have also been identified for their potential to boost such payments, with many being more focussed on the technology as it becomes more integrated in their customer’s lives. Many will up the number of mobile promotions and special offers to appeal to their more tech-savvy customers, which may prompt more to begin spending with them this way more regularly.