Mobile payments is still a new business, with low user percentage and tons of upside. That potential is starting to emerge, as the number of people globally that use a mobile phone to make payments is expected to expand to 108.6 million by the end of this year, which would be an expansion of more than 54% from the end of 2009, according to Gartner. That figure represents more than 2% of all mobile users, with the fastest growth coming in developing markets in Asia, Eastern Europe, the Middle East and Africa. Mobile financial services have traditionally grown faster in developing regions because of the relative lack of legacy banking infrastructure.
In Asia Pacific, Gartner says mobile payment users will pass 62 million and represent 2.6% of all mobile owners. That’s more than twice the share of mobile pay users in North America, for example, where the expected mobile payment user base of 3.5 million customers will be 1.1% of all mobile users by the end of this year.
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