Newcastle upon Tyne, United Kingdom, August 08, 2014 --(PR.com
)-- There are only 1.3 billion active credit and debit accounts globally, but considering that there are more than 5 billion active mobile phone accounts, there is potential for widespread application of mobile payments, according to Omlis, a global mobile payments solutions provider.
By the end of 2013, there were about 245 million mobile payment users, and Juniper Research predicts that this will almost double within the next three years up to 450 million mobile payment consumers by 2017. In terms of M-commerce value, Gartner predicts that total mobile payment transactions are expected to reach $507 billion in 2014.
The global adoption of mobile payments is on an upward curve, and is dependent on consumers’ access to technologies, varying lifestyles, and economic factors.
Africa currently harnesses the highest adoption of mobile payments, according to Gartner. Here, mobile payments are primarily used in place of bank accounts or to facilitate transactions between two parties. Diffusion of mobile payment technology follows closely behind in Latin America and parts of Asia where mobile payments are used by much of the ‘unbanked’ population. In technologically advanced economies, like China, Western Europe, and the US, mobile payments are most likely to be used for leisure activities like ticket purchases or retail.
The Global Mobile Payment Snapshot 2014 from Omlis serves as an at-a-glance-guide to adoption of mobile payments in key geographic regions, and demonstrates the variety of applications to which mobile payments can be applied.
View and share the complete Infographic showing worldwide use of mobile payments and discover other key insights for the mobile payments industry: http://www.omlis.com/Worldwide-use-of-Mobile-Payments.php