Mobile Payment Transaction Values to Reach $235.4bn in 2013

This year, mobile payment transaction values will reach a total $235.4bn (£153.8bn) worldwide, according to the latest forecasts from Gartner. That represents a year-on-year increase of 44 per cent, up from $163.1bn in 2012. 

The number of mobile payment users will hit 245.2m this year, a growth of 22 per cent year-on-year – meaning that while adoption is strong, the amount those users are spending is actually growing even faster.

Its all very impressive, but its worth noting that these figures are actually lower than previous forecasts, due to lower than expected growth in 2012, particularly in North America and Africa. 

Another factor is lacklustre adoption of NFC (Near Field Communications), which has had its forecasted transaction value cut by more 40 per cent. Gartner expects NFC to account for just two per cent of total transaction value in 2013, and only five per cent by 2017.

Region by region

Transaction values in the Asia-Pacific region are expected to grow 38 per cent year-on year, to reach $74bn in 2013. By 2016, it will reach $165bn, overtaking Africa ($160bn) to become the largest region by transaction value.

North America is forecast to grow by 53 per cent to reach $37bn in 2013, while Western Europe will grow 53 per cent to $29bn.