Mobile payment transactions to grow 42% in 2016

Mobile payment transaction volume will grow by 42% to reach 26.9m in 2016, up from 18.9m in 2015, Future Market Insights (FMI) reveals. This volume represents nearly US$768bn, up from US$549bn last year. “Payments made through NFC will witness the highest year-on-year growth rate, increasing at over 59% in 2016,” the research firm says. “SMS mobile payment transactions will witness a year-on-year growth rate of more than 28% and total US$385bn in revenues.”

  • Willam Hugh Murray, CISSP

    That is a big number. That is a market place changing number. It represents a huge opportunity for those who get with the program.