Market is looking to be promising for Mobile Photo Bill Pay

The gross dollar volume of U.S. mobile payments is estimated to grow 68 percent between 2010 and 2015, but the mobile payments will continue to represent only a “tiny portion” of U.S. consumer spending for many years, according to a study released by Aite Group LLC, a Boston-based independent research and advisory firm.

In five years, the gross dollar volume of mobile payments is estimated to reach $214 billion, up from the estimated $16 billion currently, Gwenn Bezard, Aite Group research director, said in his report, “U.S. Mobile Payments: The time has come.” Bezard defines mobile payments as any payment initiated by a mobile device. For Aite’s study, the company interviewed 60 stakeholders in September and October.

Mobile bill payment, which involves the initiation of a consumer bill payment over a mobile phone, is predicted to be the largest category, reaching a gross dollar volume of $82 billion by 2015.

This year, mobile bill payment is represents 59.4 percent of the gross dollar volume of U.S. mobile payments, followed by M-Commerce at 18.1 percent, domestic mobile person-to-person at 10 percent, and mobile point-of-sale at 5.7 percent. M-Commerce is the purchase of physical, digital goods and services.

By 2015, mobile bill payment will control 38.3 percent of the gross dollar volume of U.S. mobile payments, followed by mobile point-of-sale, which is predicted to represent 25.6 percent of the gross dollar volume, Bezard said. Mobile Photo Bill Pay is set to boom.

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