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Mobile payments to triple, reaching $170bn by 2015

Rachel Wheeler Archive
Online merchants need to optimize their websites to take advantage of the growing use of mobile devices for purchases.

According to a study by Juniper Research, the gross merchandise transaction value of mobile payments for physical goods will exceed $170 billion worldwide by 2015.

This represents a three-fold increase on the $60 billion expected to be spent in this manner over the course of 2011.

Juniper says that there is now "increasing awareness" that the retail industry needs to integrate mobile sales into its operations.

The firm's senior analyst David Snow says this research underlines the importance of mobile channels.

"Juniper believes that mobile campaigns must be tightly linked to print, online and store-based campaigns to ensure consistency of customer experience," he added.

However, intellectual property security specialists Warwick Hill Group recently warned that many firms looking to incorporate mobile technology into data management processes are overlooking the specific security threats posed by smartphones.

Posted by Rachel Wheeler