Report: Mobile payments to reach $1.3T annually by 2017

The scale of global mobile payment transactions is expected to rise nearly fourfold over the next five years to more than $1.3 trillion (€1.05 trillion) annually, according to a new report from Juniper Research. The growth is set to be primarily driven by sales of physical goods by both remote purchases and Near Field Communications transactions. Juniper bases its expectations on NFC support infrastructure advances and increasing operator engagement with m-commerce services, citing examples like Isis and Google Wallet. However, the report warned that consumer awareness of NFC remains extremely low, and commented that marketing would need to be scaled up dramatically for NFC to fulfill its potential. Release