Partnerships between banks and telecom operators may help the market grow further, the company said.
“It is difficult to estimate the value of the [mobile payment] market. Overall annual transactions amount to about EUR10 million,” Dan Virtopeanu, managing partner at Breeze Mobile, part of group Leo Burnett, said Thursday at the conference Mediafax Talks about Mobile Banking.
Most transactions, which include SMS payments, online game and parking transactions, are made by Internet users, he added.
“Mobile operators will keep playing a major role, but will have to fight alternative challenges – application stores already eating from their old mobile content revenue stream,” according to Breeze Mobile.
Mobile payments will rise 44% globally in 2013 to $235.4 billion from $163.1 billion last year, according to research company Gartner.