According to a new report, the total number of users who plan to engage in mobile transactions will rise substantially in the next few years, over two billion mobile phone or tablet users will make some form of mobile commerce transaction globally by the end of 2017, up from 1.6 billion this year.
Mobile consumption of services such as banking, money transfer and purchases of goods and services was surging as consumers were either migrating from desktop usage or becoming first-time e-commerce users through their smart phones or tablets, a report by Juniper Research found.
It found that in a number of developed markets, mobile devices would account for over half of online transactions within five years.
Meanwhile, the report highlighted the potential of social networks in accelerating mobile commerce adoption.
The report also recommended the integration of operator billing capabilities with websites to monetize digital content amongst a wider user base.
It also found consumers concerns around transaction security remain the primary inhibitor on service adoption.
While growth in the
number of mobile digital content purchasers in developing markets is relatively
low, the value of customers is increasing markedly as they transition from
ring-tone purchase to rich media content typically monetize through in-app
purchase.
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