M-commerce industry could become a £2.5b business
Purchases made on mobile phones could become a £2.5 billion business by 2016, according to a new report.
A recent survey conducted by online payment service PayPal suggests the m-commerce market will grow by 42 per cent each year over the next five years.
More than 14 million adults are expected to be shopping online regularly with their mobile phones by 2016.
Cameron McClean, general manager of merchant services at PayPal UK, said: "The convenience of a connected device that can be used almost anywhere will lure increasing numbers of UK consumers into mobile buying."
Computing hardware and related appliances are predicted to be the main product bought from mobile phones, with goods worth £542 million set to be sold. £500 million will be spent on fashion and £454 million on music, books and video.