Notes of Note from John F. Ince

Mobile payments will represent 15% of all card transactions by 2013, and will overcome card volumes within 10 years if growth continues at the same rate, according to the World Payments Report 2011.REPORT: Players need to specialise to demonstrate their ongoing value to their customersThe current growth in adoption of mobile payments means that transactions made using a mobile phone will outstrip payments made via conventional plastic cards within ten years, according to the World Payments Report 2011.The report, produced jointly by Capgemini, The Royal Bank of Scotland RBS and Efma examines the latest developments in the global payments landscape, including trends in payments volumes and instrument usage, payments-related regulatory initiatives and the strategic considerations and options for banks that result. Key findings include:Globally, cards remain the preferred non-cash payment instrument, with global transaction volumes up almost 10% and a market share of more than 40% in most markets.Mobile payments will represent 15% of all card transactions by 2013, and will overcome card volumes within 10 years if growth continues at the same rate.The use of both e-payments and m-payments is expanding, accounting for an estimated 22.5bn transactions worldwide in 2010.E-payments are expected to grow globally from 17.9bn to 30.3bn transactions between 2010 and 2013 according to the report. M-payments will grow from 4.6bn to 15.3bn transactions over the same period.The use of cheques continues to lessen, accounting for just 16% of all non-cash global transactions in 2009 — down from 22% in 2005.

via Mobile payments to overtake cards within ten years • NFC World.

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