Analysts tip mobile payment market to hit $3T by 2022

The global mobile payments industry is set to be worth $3.39 trillion by 2022 driven by markets in Asia Pacific, Allied Market Research predicted. The US-based research company forecast the sector will continue to be led by SMS and WAP-based payment systems. However, it added an increase in the number of NFC Point of Sale terminals and campaigns driven by large players providing mobile wallet services will also provide robust growth to this segment.