A recent study forecasting enormous growth in mobile payments for digital and physical goods comes as no great surprise.
Money transfers via mobile devices are expected to hit $240 billion this year growing to $670 billion within four years, according to research from London-based Juniper Research.
Some of the drivers for the coming increase in mobile transactions are various forms of enabling technologies. One method is known as NFC (Near Field Communications) that allow payments essentially by swiping a phone near a device. About 20 countries are expected to launch NFC services with transactions worth $50 billion within the next two years, according to the Juniper study.