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Purchases on mobile devices to exceed 50 billion transactions annually by 2016

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Harmeet
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HAMPSHIRE, UK: A new report from Juniper Research has found that the annual number of purchases made on mobile handsets and tablets is expected to reach 53 billion by 2016, almost double the 27 billion made last year.

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The report - Mobile Payment for Digital & Physical Goods: Opportunities & Forecast 2014-2018 - found that the majority of these purchases (around 80 percent) would be accounted for by digital content and mobile ticketing solutions.

It argued that transaction volumes would receive a significant uplift as an increasing number of OTT (Over The Top) storefronts introduced direct carrier billing solutions to supplement credit/debit card payment facilities.

According to the report, storefronts that implement direct carrier billing can monetise younger demographics and unbanked users for the first time.

It found that storefronts which had already introduced direct carrier billing had already seen a sharp rise in paying users, purchase frequency and average transaction value. The trend is particularly pronounced in developing markets: in Indonesia, carrier billing now accounts for 83 percent of all transactions.

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