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More people to use Smartphone payments – Delloitte.

Delloit says In-store smartphone payments will rise in 2015, with global upgrades estimated to hit 1 billion. (PIX: Courtesy)

This year in-store smartphone purchases worldwide will increase by more than 1,000 pc from last year.

While the mobile wallet will not replace the traditional wallet yet, 2015 will be a tipping point toward wider consumer adoption of in-store smartphone payments.

This is according to the 14th edition of Technology, Media and Telecommunications (TMT) Predictions, a report by Deloitte Touche Tohmatsu Limited (Deloitte Global).

Additionally, Deloitte Global predicts that print books will continue to dominate the publishing industry and account for 80 pc of all book sales by dollars and units, and that 2015 will be the year where enterprise will be ahead of consumers for adoption of new technologies such as 3D printing, Internet of Things (IoT) and drones.

Paypal is one of several mobile payment platforms. The app was mainly available on Android and iOS, but has now been upgraded  and is now compatible with all major mobile platforms, including BlackBerry, Windows Phone and Fire OS. (PIX: Courtesy)

Paypal is one of several mobile payment platforms. The app was mainly available on Android and iOS, but has now been upgraded and is now compatible with all major mobile platforms, including BlackBerry, Windows Phone and Fire OS.
(PIX: Courtesy)

Also, counter to previous industry predictions around the smartphone reaching a plateau, Deloitte Global predicts there will be 1 billion upgrades in 2015, signaling that the market has not yet matured or stagnated.

“Smartphones are already being used to check balances, transfer funds and transact online, but they have not reached a ‘mobile wallet’ status globally,” said Jolyon Barker, Managing Director, Global TMT Industry, Deloitte Global. “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.”

Last year signaled a shift away from a decade-long trend of consumerization of Information Technology (IT), for example, with a modest consumer uptake of wearable technology like smart glasses.

In 2015, however, Deloitte Global predicts the pendulum to swing further toward enterprise led adoption with wearables, 3D printing, drones and the IoT meeting more needs and generating higher sales for business than consumers. Full details about the global TMT Predictions are available here: http://www.deloitte.com/Predictions2015.

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