Mobile payments market to reach US$1tn by 2017

About US$1tn will be spent using mobile payments services in 2017, up 124% from less than US$500bn expected in 2015, International Data Corporation says. “Asia/Pacific markets will contribute to this growth greatly as mobile commerce transactions with remote payments take off across the region,” the company predicts, adding the region is “expected to lead the world in mobile payment developments”.