Mobile Payment: a Shifting Landscape17 July 2012 by Payvision
Mobile phones are becoming preferred smart payment devices. 87% of the world owns a mobile phone and according to Gartner Research estimates, sales of smartphones will continue to grow by 75% each year. In 2009, 4.7 billion people owned a mobile phone; by the end of 2011, this number had reached 6 billion, an increase of 1.3 billion subscriptions in only two years.
With these numbers in mind, the question arises, 'Which markets will be most affected by this mobile revolution and which regions?' The developed countries, attracted by the comfort of additional financial services and trendy gadgets, or the unbanked developing markets, led by the emerging BRICS (Brazil, Russia, India, China, South-Africa)?
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Mobile Payment: a Shifting Landscape