By Nnanta Christopher InvestAdvocate

Lagos (INVESTADVOCATE)- Mobile Payment Market for goods and Services excluding contactless Near Field Communication (NFC) transactions and money transfers, is expected to exceed N48.6 trillion ($300 billion) globally by 2013. This is contained in Wikipedia, the free encyclopedia.

“Mobile Payment Market for goods and services, excluding contactless NFC transactions and money transfers, is expected to exceed $300B globally by 2013” the Report said.

Also, wikipedia said the combined Market for all types of Mobile payments is expected to reach more than N97.2 trillion ($600B) globally by 2013.

The Nigeria’s Central Bank had in year 2011 introduced a regulatory framework for Mobile payment services in the Country.

 According to the Central Bank of Nigeria (CBN) Mobile Payment System in Nigeria refers to the various components required to deliver mobile payment to the banking and non-banking community and the providers of these services and solutions shall be required to operate within the defined regulatory framework specified by the CBN.

As earlier reported, the Nigeria’s Central Bank had called on Nigerians to embrace electronic payment systems in all forms of financial transactions, affirming it would reduce risk, boost economic development and enhance financial inclusion.

Nigeria’s Central Bank ending of September 2011 endorsed the United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc (GTBank), Stanbic IBTC and 11 other Mobile Money Firms to operate in that sector.

The 11 other Mobile Money Companies approved by the CBN include, ENL, Paga Tech, M-Kudi,   E-Transact, MTN and Monitise.

Others are Ecobank, Fortis MFB, Afripay, Funds Electronic Transfer (FET) and Paycom.