Of Special Interest
16th September 2011
Mobile payments may exceed 15bn in 2013
The World Payments Report commissioned by Royal Bank of Scotland, Capgemini and Efma suggests there were approximately 3.1m m-payments in 2009, around 1.2% of global non-cash payments. This number is said to increasing at nearly 50% per annum suggesting 4.6bn in 2010 and potentially reaching 15.3bn in 2013, equal to 15% of the level of card transaction, therefore around 6% of all non-cash transactions.
The aggregate value of m-payments is calculated as increasing at 52% compound annual growth. The value estimate for 2010 is €62bn (£54bn $85bn ¥6.5tr Y544bn) rising to €223bn (£194bn $306bn ¥23.5tr Y1,958bn) in 2013. The reports expects banks to handle 92% of m-payments in 2013, down slightly on the 94% in 2010.
Non-cash payments grew 5% in 2009, card payment was up 9.7% and epayments are expected to grow at nearly 20% reaching 30.3bn in 2013. Global cheque usage is estimated at 16% of non-cash payments in 2009 down from 22% in 2005.