While maybe not as sexy as mobile wallets or NFC payments, mobile couponing will continue to play an important role in the mobile payment landscape. This is according to a report from research firm Juniper Research called "Mobile Coupons Update: Ecosystem Analysis & Marketing Channel Strategy 2011-2016." In the report, Juniper predicts the global redemption rate of mobile coupons will average over 8 percent by 2016, or an eightfold increase over paper coupons.

According to Juniper, markets in North America and Western Europe are seeing a growth pattern similar to the Far East & China. Additionally, the report says that by 2016, 600 million people worldwide will be regular users of mobile coupons representing redemption values that will exceed $43 billion.

Juniper said that mobile coupons have an advantage over paper coupons and represent a good strategy for brick and mortar retailers to stave off the encroachment of online retailers. However, Juniper's research did say the rise of mobile couponing will come only after an initial period of experimentation by issuers and users.

"As with all new mass markets there is an initial 'shakeout' period," said the report's author. "North America and Western Europe are at this stage now. For the next few years users will be signing up to multiple coupon schemes and deciding on the ones they like best — so now is a crucial time for mobile marketing agencies to get it right on behalf of their clients and establish a loyal customer base."

For more stories on this topic, visit the Loyalty Programs research center.