580m people worldwide will buy physical goods on mobile by 2014, growth of 47 per cent from 393m shoppers this year. Total value from these purchases will hit $730bn within five years, according to Juniper research.

The Mobile Payments for Digital and Physical Goods: Opportunity Analysis 2012-2017 found that the size and scale of purchases will continue to rise, with retailers seeing larger volumes of regular, higher-value transactions, including the weekly grocery shop. Average tablet transaction sizes already exceed those on desktops and laptops. 

Operator billing is becoming more widespread, but is currently limited to digital purchases.

Dr Windsor Holden, author of the report, said: “Consumers increasingly expect to be able to buy their products and services via their smartphones and tablets. Companies which do not offer this option face falling behind their competitors.”

Concerns about security were found to be paramount, although consumer adoption of solutions on handsets has not yet been seen.