The growth of mobile phone users, mobile and smartphone penetration coupled with decreasing prices of handsets has made this channel the number one focus area for every organization. The convenience that mobile provides in terms of payments is one of the major interest areas that any commerce/transaction application is looking to build up. Although various forecasts predict different numbers as the total market size, they all point to a common factor that mobile payments are poised to witness a growth of over 30% annually in the coming five years. Some of the common factors that are going to propel this growth are P2P payments, mobile commerce, proximity payments, wallets and government services that are going mobile.
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