$600 billion in mobile payments by 2013

Juniper Research’s Mobile Payments Study reports that by 2013 purchases via mobile devices of digital and physical goods, contactless NFC (Near Field Communications) transactions and money transfers will in total account for over $600 billion worldwide.

Contactless NFC, mobile money transfer and physical goods purchases via mobile devices were found by the report to be three high potential markets which offer major new opportunities for the future.

"We’re forecasting that all segments of the market will see growth over the next five years, driven by both the rapid availability of exciting, easy to use services, and the continued growth in mobile subscriber penetration, particularly in developing countries. As well as becoming multifunctional devices for many users, mobiles will become wallets that people won’t leave the home or office without,” noted Howard Wilcox, the report author.