M-commerce transactions to rapidly increase by 2016

The future of m-commerce seems to be bright with two separate reports recently announcing they expect m-commerce transactions to be worth £24 billion by 2016.

Informa have suggested that remote payments for physical goods and services and international mobile money transfers account for two-thirds for the total m-commerce market. They also commented that m-commerce transactions, in emerging markets, are being conducted via SMS.

While Screen Digest IHS predicted that in-app purchases will make up 64% of the total mobile app market revenue by 2015, rising to £3.6 billion. 

The senior analyst in mobile media at Screen Digest, Jack Kent commented; “Smartphone users overwhelmingly prefer free apps to paid apps, as we estimate 96 per cent of all smartphone apps were downloaded for free in 2011. In 2012, it will become increasingly difficult for app stores and developers to justify charging an upfront fee for their products when faced with competition from a plethora of free content.”

With such a growth in m-commerce, is it likely fraudsters will be looking to this channel to target next? Let us know your thoughts by joining our Linkedin group