Telecoms predictions for 2015: mobile payments go mainstream

Deloitte has issued its Predictions 2015 report, detailing three telecommunication trends the group expects to take off this year.

Headline predictions for the telecoms sector include contactless mobile payments hitting mainstream, as well as in-store smartphone purchases worldwide expected to increase by more than 1,000 percent from last year.

“While the mobile wallet won’t replace the traditional wallet yet, 2015 will be a tipping point toward wider consumer adoption of in-store smartphone payments,” Deloitte said.

“In South Africa, smartphones are already being used to check balances, transfer funds and transact online, but they have not reached a ‘mobile wallet’ status globally,” said Mark Casey, TMT industry leader for Africa at Deloitte.

“We predict 2015 will be the first year that all mainstream mobile requirements will be addressed, making smartphone payment options easier, with user friendly security in place.”

The annual Deloitte Global TMT predictions report provides a 12-18 month outlook on key trends in the technology, media and telecommunications industry worldwide.

Here are Deloitte’s three telecoms predictions for 2015:

For the first time, the smartphone upgrade market will exceed one billion

1.35 billion smartphones will sell worldwide in 2015, but over a billion of them will be upgrades – new phones for those who already have one.

The upgrade cycle may be lengthening, but screen size, speed, storage, software and design will continue to drive growth for smartphone refreshes.

Contactless mobile payments (finally) gain momentum

The end of 2015 will mark the tipping point for the use of mobile phones for in-store payments around the world.

It will be the first year in which the multiple prerequisites for mainstream adoption – satisfying financial institutions, merchants, consumers and device vendors – have been sufficiently addressed.

In 2015, about 10 percent of the base of smartphones worldwide will be used to make an in-store payment at least once a month, compared to less than half a percent (led by early adopters in Japan) of about 450 million smartphones in mid-2014.

The connectivity chasm deepens as gigabit Internet adoption rockets

Globally, the number of homes with broadband Internet will grow by about 2 percent to 725 million, and average broadband speeds in most countries will increase by 20 percent.

The gap between those with access to the fastest broadband speeds and those on basic speeds will continue to widen in 2015, providing a varied experience from home to home, especially for high bandwidth applications like streaming video.

All broadband is equal…but some is more equal than others.

More on predictions

SA wireless industry predictions for 2015

Data centre market predictions for 2015

10 ‘outrageous’ financial predictions for 2015

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Telecoms predictions for 2015: mobile payments go mainstream