Mobile payment users will hit 141.1 million in 2011, a 38.2% increase from 2010, according to a new report from Stamford, Conn-based research firm Gartner, which pegged the 2011 global mobile payment volume at $86.1 billion, up 75.9% from 2010 volume of $48.9 billion.
Despite that superficially brisk growth, take up is in fact proving slower than expected, according to Gartner analyst Sandy Shen.
Shen elaborated: "In developing markets, despite favorable conditions for mobile payment, growth is not as strong as was anticipated. Many service providers are yet to adapt their strategies to local requirements."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
