Smartphones to warrant 10 billion payments by 2018

13/03/2014

Smartphones To Warrant 10 Billion Payments By 2018

A new report has indicated that mobile phones will become even more important to how we go about our everyday life, especially our shopping habits.

Contactless payments, made through smartphones, will reach ten billion every year by 2018, according to a report by Juniper Research. If the prediction is accurate, this would represent a growth of more than 330 per cent from three billion between now and 2018.

The number of apps that permit contactless payments has rapidly increased, with Apple's iWallet rumoured to be on the horizon. Although the Cupertino company has not yet been confirmed, the firm has filed a patent for the technology. 

If Apple does move into contactless payments, it could see the idea move more into the mainstream and rivals such as Samsung and Nokia will probably bring their own apps onto the scene.

The report is just the latest indicator that smartphones are becoming increasingly essential for modern life. It also indicates that anyone who doesn't already have such a device should consider the benefits of trading in their current mobile phone for a brand new one.

Posted by Clare Marshall

Sell my phone now