According to a recent report from Juniper Research, 204 million mobile payment users will generate about $22 billion by 2011. Juniper predicts that person-to-person payments and near field communications (NFC) will drive the market. Current market barriers include resolving business model issues and revenue share issues, because financial institutions and carriers both want to own the relationship with the user.
"The business model still needs some work but there are positive signals emanating from the industry that will create considerable revenue for all parts of the ecosystem. I am cautiously optimistic for the future success of mobile payments," said the report's author, Juniper analyst Alan Goode.
For more on the study:
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