Report: Mobile Transaction Value to Reach $235 Billion in 2013

June 6, 2013

Technology research group Gartner said worldwide mobile payment transaction value will exceed $235 billion in 2013, up 44 percent from the $163 billion spent using mobile devices last year. And, the Stamford, Conn.-based consultancy said, growth in mobile transaction volume and value will continue to grow significantly.

“We expect global mobile transaction volume and value to average 35 percent annual growth between 2012 and 2017, and we are forecasting a market worth $721 billion with more than 450 million users by 2017,” said Sandy Shen, research director at Gartner. “Nevertheless, we have lowered the forecast of total transaction value for the forecast period due to lower-than-expected growth in 2012, especially in North America and Africa.”

Gartner attributes the lower growth projections to disappointing adoption of NFC technology and struggles experienced by high-profile initiatives like Google Wallet and Isis.