Mobile payment users will hit 141.1 million in 2011, a 38.2% increase from 2010, according to a new report from Stamford, Conn-based research firm Gartner, which pegged the 2011 global mobile payment volume at $86.1 billion, up 75.9% from 2010 volume of $48.9 billion.
Despite that superficially brisk growth, take up is in fact proving slower than expected, according to Gartner analyst Sandy Shen.
Shen elaborated: "In developing markets, despite favorable conditions for mobile payment, growth is not as strong as was anticipated. Many service providers are yet to adapt their strategies to local requirements."
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