SmartDebit Comment On Reports That Mobile Payments To Be Worth $180bn By 2017

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SmartDebit

2011 was a defining year for mobile payments, with the majority of major handset manufacturers announcing new NFC-enabled phones.

(PRWEB UK) 7 September 2012

The report compiled by Juniper Research suggests that over a quarter of mobile phone users will pay for goods and services through their device by 2017. The report claims that 90% of mobile payments will be made in West Europe, North America and the Far East.

Visa is using the London 2012 Olympics and Paralympics as a showcase for mobile payments, with approximately 140,000 contactless payment points across the UK in chains such as McDonalds and Greggs. The company predict that half of its transactions will be made via mobile phone by 2020 and have described the shift to mobile payments ‘as a marathon and not a sprint’.

A spokesperson from SmartDebit commented on the growth of this payment method “2011 was a defining year for mobile payments, with the majority of major handset manufacturers announcing new NFC-enabled phones. However, a lot of consumers are still not aware of contactless cards. We will have to wait and see if retailers are willing to invest in NFC payments so soon after the transition to chip and pin”.

SmartDebit™ are the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.

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