The direct carrier billing (DCB) industry will “boom” over the next three years, reaching £23 billion (€25.4 billion) in global revenue by 2023, according to new research.
The Future of DCB whitepaper, carried out by Mobilesquared and commissioned by PM Connect, which provides mobile content that is monetised through DCB, also forecasts that DCB technology will reach 1.5 billion users in the same time period.
The research finds that the most significant consumer sector growth will be in mobile ticketing and health and fitness, alongside on-demand sport content. By 2023, 39% of smartphone users are expected to regularly access lifestyle and sports content, tickets, videos, news articles and more through DCB payments – up from 19% in 2018 and 26% today.
In the UK, the technology is projected to reach £251 million revenues by 2023, an increase of 26% from 2020, and £2.02 billion in Western Europe, an increase of 17%.
In Africa, DCB users are set to reach 130 million by 2023 – a 60% increase from 2020, while in the Middle East revenue is forecast to rise by 30% to £717 million.
Chris Purdie, Group Commercial Director at PM Connect, said, “While the current climate has presented undoubted challenges across industries, it has underlined the power of the smartphone for communication and payment.”
“DCB is a more universal way to pay – bypassing the need for long sign-up processes or inputting bank account details, alongside transparent direct communication. We hope this research demonstrates what an exciting time it is for our industry, proving it is a payment method on the cusp of hitting the mainstream,” he added.