Mobile payments refer to payment
services that are made through mobile devices. This may become the next
disruptive technology, based on the growth in the number of mobile
wallet apps globally and the adoption of mobile payment methods by large
businesses like Starbucks Corporation (SBUX) which has been an early
adopter of this technology.
Technology research firm Gartner, Inc.
(IT) estimated that the total value of mobile payments exceeded $170
billion worldwide in 2012 and predicts that they will grow fourfold to
more than $700 billion by 2017. Gartner has also estimated that the
total users of mobile payments will more than double from an estimated
212 million in 2012 to almost 450 million in 2016. AXP.
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