Mobile banking will take off over the next 5 years, led by behavioural challenges in the developing world as people who currently have no access to banking or electronic payment services take up mobile banking. Informa Telecoms & Media predicts that in 2013 almost 300 billion transactions worth more than $860 billion will be conducted using a mobile phone, which would represent a 12-fold increase in gross global transaction values in just five years. Assuming that the key players in the industry cooperate effectively the total revenue opportunity for mobile payments and banking will be over $10 billion by 2013, with the biggest revenue coming from mBanking services which are predicted to be worth $5.5 billion by that time. Near Field Communication (NFC)—which lets people swipe their phone over a sensor which reads a chip—is not expected to be a huge part of this, held back by a lack of availability of NFC-capable handsets and uncertainties regarding the business model. Informa does predict it will grow though, forecasting that in 2013 about 11 percent of all mobile handsets shipped will be NFC-enabled and that over 178 million mobile subscribers will be regularly using mobile NFC phones to buy physical goods and services, such as tickets, locally at the point of sale. Other predictions include:

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