#MobileMoney set for a boom in the next 4 years
Campaign Asia, quoting a global business KPMG found that almost 83% of the respondents saw that mobile forms of payments will be prominent in 4 years time. It however risks the danger of being fragmented as there are currently many players vying for sole position. KPMG states that consolidation of the mobile payments market is definitely on the cards.
KPMG estimates that payments via non-traditional methods will come up to US$1 trillion by 2014.They also estimate that most aggressive growth coming from the Asia-Pacific region. While the myriad of choices are currently available to carry out transactions, in the future consolidation of the market will see greater volume of use in the markets. The article admits that the fragmentation is causing some hesitation in the markets, but with greater research, there is indeed a lucrative market to enter.
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