Projections from eBay show that its mcommerce volume will rise by 18 per cent on its 2012 figures (14.1 billion) to $20 billion in 2013. The firm's PayPal unit is also expected to handle approximately $20 billion in mobile transactions on 2013.

Research In Motion (RIM) has announced that it has just received its mobile payments method approval from the Visa credit card system due to its ability to securely handle the processes and transactions.

With digital storefronts just an arm's length away, millions are reaching first for their smartphone when the urge to shop strikes. Whether at home or on the go, these consumers use their phones to browse and research products, hunt for deals and make purchases.