Users could trade in mobiles for new payment options

21/07/2011

Users Could Trade In Mobiles For New Payment Options

An increasing number of people could be set to trade in mobile phones in order to invest in devices that offer them the potential to use the latest payment technology.

Mobile payment is set to become available to 141.1 million people across the world by the end of 2011, according to the latest research from Gartner.

This will be a 38.2 per cent hike on the number of individuals able to use their handsets to pay for goods in shops in 2010.

"The biggest hurdle is the need to change user behavior by convincing consumers to pay with mobile phones instead of cash and cards," explained Sandy Shen, research director at the organisation.

She went on to suggest that it will be at least four years until the technology is taken up on a wide scale, but insisted it will rise in the meantime.

Earlier this month, Juniper Research suggested the mobile payment sector will triple in value between now and 2015.

Posted by Claire Marshall

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