A report on mobile payments concludes that purchases via mobile devices of digital and physical goods by means of contactless NFC (Near Field Communications) transactions and money transfers will together generate transactions worth over USD 600 billion globally by 2013.

Although the mobile payments market is now dominated by digital goods purchases such as ringtones, music, games and infotainment, the research identifies three high potential markets which offer new opportunities for the future, namely contactless NFC, mobile money transfer and physical goods purchases via mobile devices. Researchers forecast a growth in all segments of the market over the next five years, driven by both the rapid launches of easy to use services and by the continued growth in mobile subscriber penetration, mainly in developing countries. The report forecasts an increased growth rate of the global mobile subscriber base, with in excess of 1 billion new users by 2013.

According to the research, Far East & China, Western Europe and North America are currently the top 3 regions for mobile payments which represent 70 percent of the global mobile money transfer gross transaction value by 2013. The report is titled ‘Mobile Payment Markets Strategies & Forecasts 2008-2013’ and was produced by Juniper Research.