Gartner Says Expect Jump in Mobile Payments Users

Posted by John B. Frank Thursday, May 28, 2009

Jump in mobile payments users this year - Gartner

The number of people around the world making payments using their mobile phones is set to soar from 43.1 million in 2008 to 73.4 million this year, a 70% rise, according to analyst house Gartner.

By 2012, the company predicts the number of people making m-payments will hit 190 million - more than three per cent of total mobile users - as it becomes "mainstream."

However, security concerns, an inadequate 'ecosystem' and undefined areas in banking regulations remain challenges for the technology.

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mobile payments, insecure, security concerns, banking, SafeTPIN, SwipePIN, iSwipe

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