Research suggests that by 2019, there will be almost 200bn mCommerce transactions a year, up from 72bn this year.
According to a report by Juniper Research, transactions by mobile phone and tablet users are expected to reach 195bn a year within the next five years, with the highest growth rates expected in the NFC sector, accelerated by the launch of Apple Pay and upcoming solutions from banks based on Host Card Emulation technology.
The highest net increase in transaction volume is expected to come from the digital goods sector, as micropayments for in-app purchases continue to surge, especially in the social gaming arena.
"Storefronts that have deployed carrier billing solutions have already seen positive results across a range of indicators – higher conversion rates, higher average transactions values, higher transactions volumes," said Dr Windsor Holden, author of the report. "For the first time, they can monetise consumers who would otherwise have been excluded either because they lacked a credit card or because they were unwilling to enter card details online."
The report also observed that many mobile ticketing services had seen rapid adoption rates following their launch, suggesting a pent-up demand for these kind of services. In the US, New York Waterways' mobile ticket solution accounts for 25 per cent of all sales after less than two years after its launch, while the Massachusetts Bay Transportation Authority's mTicket service accounted for 15 per cent of sales in under nine months.