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eMarketer: Consumers Bullish on a Mobile Payments Future

US proximity payments will double this year, hitting $3.50 billion

NEW YORK, NY (October 9, 2014) — The more things change in the US mobile payments space, the more they seem to stay the same. The landscape continues to rapidly evolve, with many players experimenting with and launching new products. Consumers remain tepid about paying for goods and services with their phones at the point of sale, although increased exposure to mobile payments is helping drive adoption and growth, according to a new eMarketer report, “US Mobile Payments 2014: Updated Forecast and Key Trends Driving Growth.”

Even in a persistently fragmented market, US proximity payment transaction values doubled between 2012 and 2013 to reach $1.59 billion as more consumers warmed to paying for their daily cup of coffee with their phones. eMarketer projects transaction values will double again this year to reach $3.50 billion and further accelerate through 2016 as more users come on board and make increasingly larger mobile purchases.

Read the full press release on the US mobile payment market.

For more information:

Dan Marcec
Director, Public Relations

Denise Duffy
Director, Public Relations

Posted on October 9, 2014.