New Study Suggests Global Online and Mobile Payments to Double in Three Years

by Mercator Advisory Group 0

According to a joint report by Capgemini, The Royal Bank of Scotland (RBS), and Efma, the global online and mobile payments will nearly double in three years. The projected growth is largely due to the quickly growing m-payment markets, but online payments will also grow strongly, the report says.

The number of global e-payments (online payments for e-commerce activities) is expected to grow from 17.9 to 30.3 billion transactions between 2010 and 2013, while m-payments are expected to grow from 4.6 to 15.3 billion transactions in the same period.

Global e-payments and m-payments collectively accounted for an estimated 22.5 billion transactions valued at €886 billion or around 8 per cent of total non cash transactions in 2010, as per the report.

The study said in general, e-payments are currently more viable in developed countries, which have the Internet infrastructure and penetration, that emerging markets lack. “M-payments are gaining most traction in emerging markets, where they represent a cost-effective and secure medium for various types and sizes of cashless payment transactions, and provide access to financial services to the unbanked,” the report said.

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