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Mobile Payments are Here and About to Explode

Mobile Payments are Here and About to Explode

One of the major trends experts predict we will see in the mobile space of 2012 is mobile payments. As in, the mobile device replacing our credit cards or our wallets. Realistic? Google thinks so!

Of course, the technology that will lead this trend is NFC (Near Field Communication), a feature that has already taken off in many parts of Asia, comes built into the Google Nexus S, and many believe will be included in the next generation iPhone.

NFC has many possible uses including payments, but as far as we are concerned, it will also revolutionize the world of mobile advertising, and we are excited for NFC to hit the mainstream!

Some of the numbers worth pondering and that you will see in the super interesting infographic below include:

  • Already today, annual mobile transactions equal $240 billion.
  • By 2013, sales of NFC phones will add up to over $75 billion.
  • Within two years, one in five cellphones sold worldwide will include NFC.
  • By 2014, NFC transactions will approach $50 billion.
  • By 2015, the value of mobile money transactions will reach a whopping $670 billion.
Check out this awesome Google infographic about the mobile payments industry, it is sure to blow you away!

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