Juniper Research: Annual digital payments to reach $4.7T by 2019

The annual transaction value of online, mobile and contactless payments will reach $4.7 trillion by 2019, up from just over $2.5 trillion this year, according to Juniper Research. The largest net increase in spend is expected to occur through remote physical goods purchases. There has been a dramatic surge in activity in emerging markets such as China, with the online retailer Alibaba accounting for 20 per cent of global B2C (business to consumer) and C2C (consumer to consumer) eRetail worldwide in 2013. However, while there was organic growth in the overall transaction levels due to increased purchasing on tablets and mobile, a significant proportion of tablet usage represented migration from desktop activity. Combined transactions on mobile handsets and tablets are set to exceed those on desktops and laptops for the first time this year. Release