Possibly even more so than on the internet, payments are the key to success for mobile gambling companies. In this extract from the Mobile Report she wrote for iGaming Business, Aideen Shortt provides an introduction to the payment options available to mgaming firms and looks at the size of an m-commerce market which looks likely to grow massively in the next few years.

Bill Gates is quoted as saying, “Banking is essential. Banks are not.” This has never been truer than it is currently when we consider the explosive growth of alternative payment mechanisms. WorldPay data shows that, today, alternative payment mechanisms account for €165 billion of global e-commerce transactions, representing 22% of total transactional value, and they are expected to enjoy a Compound Annual Growth Rate (CAGR) of 13% in the run up to 2015

Most online transactions take place without any fraud occuring but the perception of fraud is a hugely important concept in online payments. It remains a constant worry for consumers and merchants alike. 

Asia is both tech-savvy and very poor, the two features thus offering great opportunities for mobile payments and financial services providers. In Africa m-payment services are very rudimentary but they are also flourishing and mobiles are a lifeline to many poverty-stricken Africans who wouldn’t otherwise have any access to financial services of any sort.

Payments are an integral part of the igaming experience and possibly even more so for the mobile gambling sector. Aideen Shortt gives an overview of the mobile payments industry, the issues to must to gain wider acceptance and how mobiles are perceived in different regions of the world.   

Aideen Shortt  explains how usage trends and habits within digital payments are driven by the users themselves.