With the mobile phone becoming a more and more adopted tool for communication, so is its possibilities for payment. According to Juniper Research the total market for payments made via mobile phone for digital goods (such as music, tickets and games) and physical goods (typically gifts and books) will exceed $300bn globally by 2013.

Key findings of the research includes:

• Global annual gross transaction value will grow over five times by 2013

• The ticketing segment will be driven by consumer usage on rail, air and bus networks as well as sports and entertainment events This will represent more  - than 40% of the global transaction value by 2013

• The top 2 regions (Far East and W. Europe) will represent over 60% of the $300bn p.a. global mobile payment gross transaction value by 2013 for digital and physical goods

• Western Europe is currently dominated by digital goods and services sold via SMS, whereas the Far East & China region (specifically Japan) is already well established in physical goods sales over the mobile web, and has been for a number of years.

Source: Juniper Research