Great Potential For The Mobile Payment Market

The potential of mobile payments in the US is “enormous”, according to a recent report released by audit, tax, consulting and financial advisory services firm Deloitte Research.

The report has highlighted some of the key barriers that have traditionally challenged the mobile payment market in the US and has pointed out possible solutions that could help unlock this market’s potential.

The report has also predicted that 24.3 percent or 73.9 million of all US mobile subscribers are expected to use mobile banking in 2012. Similarly, the survey has predicted that the number of mobile payment users who are likely to carry out transactions on their phones for mass transit, fast food and digital goods is set to increase to 21.3 percent or 4.7 million of all mobile subscribers in 2012.

Moreover, the report has pointed out that 66 percent of players active in the US m-payment market and which were questioned in the survey are still in the planning stages of mobile payment deployments.

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