Ummid Assistant

Hajj committee's IAS coaching cell invites applications for new batch

AMU Centre for Distance Education to add five more study centres

Welcome Guest! You are here: Home Business & Economy

141 mn people to use mobiles for payments: Gartner

Thursday July 21, 2011 05:01:03 PM, IANS

New Delhi: Worldwide, 141.1 million people will use mobile phones as the preferred means of paying their dues this year against 102.1 million in 2010, a study by research and advisory firm Gartner said Thursday.

This is a 38.2 percent increase from last year, the study said.

According to the study, the worldwide mobile payment volume would be $86.1 billion, up 75.9 percent from $48.9 billion in 2010.

However, despite these strong growth projections, the study pointed out that the growth of the mobile payment market is slower than expected.

"In developing markets, despite favourable conditions for mobile payment, growth is not as strong as was anticipated. Many service providers are yet to adapt their strategies to local requirements, and success models from Kenya and the Philippines are unlikely to be translated to other markets," said Gartner research director Sandy Shen.

"While developing markets have favourable conditions for mobile payments, such as high penetration of mobile devices and low banking penetration, this is no guarantee of success, unless service providers adapt their strategies to local market requirements," she added.

The study said that in developed markets, companies are trumpeting the prospects of Near Field Communication (NFC) without realizing the complexity of the service model.

NFC technology allows customers to quickly purchase products and transfer secure information by touch devices.

"We believe mass market adoption of NFC payments is at least four years away," Shen added. "The biggest hurdle is the need to change user behaviour by convincing consumers to pay with mobile phones instead of cash and cards."

The study highlighted that short message service (SMS) and unstructured supplementary service data (USSD) will remain the dominant access technologies in developing markets due to the constraints of mobile phones.

USSD technology is used to communicate with the service provider's computers in Global System for Mobile communication (GSM). It can be used for internet browsing, mobile-money and location-based content services.

Wireless Application Protocol (WAP), a mobile-enabled browsing platform, will remain the preferred mobile access technology in developed markets, where mobile internet is commonly available and activated on the phone.

Mobile application downloads and mobile commerce are the main drivers of WAP payments, and WAP will account for almost 90 percent of all mobile transactions in North America and about 70 percent in western Europe in 2011, the study said.



 



 


 

 

 

 

 

  Bookmark and Share

Home | Top of the Page

 

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

More Headlines

Malaysia on cross-border clearance platform for Shariah-compliant bonds

India successfully tests Prahaar short range missile

Chhattisgarh's terror boys: once feared now fearful

How healthy is your school? Chandigarh to show way

Yeddyurappa, others named in illegal mining report: Santosh Hegde

Egypt to hold parliamentary polls in three rounds

Two killed as Maoists ambush Chhattisgarh Congress chief's convoy

Charity can't fund education-for-all: Apex court

JNMC ranked among top 25 Medical Colleges of India

First tribal radio centre of world to be launched in MP

Over half of Indian kids are without immunisation

Cop dies, 20 colleagues faint during physical test

i

 

 

 

Top Stories

Our bonds outweigh differences: Clinton

With the strategic dialogue bringing out divergent perceptions on some aspects of the civilian nuclear deal and Afghanistan, US Secretary of State Hillary Clinton Wednesday underlined that her country's  

India-US higher education summit in October

US pushes India on n-liability law, talks tough on Pakistan

 

  Most Read

Over half of Indian kids are without immunisation

More than half of Indian children under the age of two do not receive comprehensive routine immunisation, a study by an NGO said Wednesday. According to international aid agency Save the 

Congress activists protest Kashmiri students' harassment

Dozens of Congress activists staged a demonstration in this Jammu and Kashmir summer capital Wednesday against the alleged harassment of Kashmiri students in Madhya Pradesh. The protesters raised slogans like, "Down with the MP (Madhya Pradesh) government"  

 

  News Pick

Jamia honours Ambassador of Saudi Arabia

The Jamia Millia Islamia (JMI) Wednesday conferred its first ever Nishan-e-Azad title on Faisal Hasan Trad, ambassador of Saudi Arabia to India 

India's youngest ministry tasked to end open defecation

India's youngest ministry has the enormous task of ridding rural areas of open defecation and unsafe drinking water with about 245 million people in the country still without access to sanitation facilities and nearly 

Lord's ladies told to dress appropriately

As India and England tread cautiously for their 100th Test match at Lord's, the women members of the famous Marylebone Cricket Club (MCC) have reportedly been asked to dress appropriately for the historic 

Venezuela surpasses Saudi Arabia in oil reserves

Venezuela is now the country with the most proven crude oil reserves on the planet, 296.5 billion barrels, according to the Annual Statistical Bulletin of the Organization of the Oil Exporting Countries. The South American country's 

 

Picture of the Day

Jamia Millia Vice Chancellor Najeeb Jang conferring the title 'Nishan-e-Azad' on Ambassador of Saudi Arabia Faisal Hasan Trad on July 20, 2011.

 

 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Religion

RSS

Scholarships

About us

International

Culture

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

     

Education

       

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.