The US may become a prominent mobile commerce market in the near future Mobile payments may be set to see explosive growth in the U.S., according to analysis from BI Intelligence. The firm has estimated that global mobile commerce spending in 2013 reached $223 billion, approximately 4% of the total credit and debit transactions made in that year. The U.S. has been lagging behind the Asian-Pacific and African markets, however, U.S. consumers have been growing more interested in mobile commerce over the past year. Mobile transactions continue to find strong…
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Mobile payments apps are not all created equal
Xtreme Labs has conducted a study that reported on the winners and losers in these applications. The results of a study that was performed by Xtreme Labs have just been released, revealing the ratings that American consumers have applied to various mobile payments and banking apps in the United States. The report clearly showed that there were a number of well liked applications as well as those that were entirely disliked. The analysis was performed using customer reviews that were officially submitted to the Apple App Store and to the…
Read MoreMobile payments could grow tremendously among underbanked Americans
This demographic in the United States is now seen to be a key player in the growth and success of the transactions. Current estimates show that in the United States, there are 68 million people who are considered to be underbanked, and the majority of them are highly familiar with cell phones, which makes them ideal candidates for benefiting from what mobile payments have to offer. This can mean that if the market is able to crack this demographic, it could have the potential for tremendous growth. The primary hurdle…
Read MoreMobile payments show signs of taking off in US
The latest figures show that approximately 12 million Americans have been depositing checks using smartphones and tablets. According to the latest numbers, estimates regarding the use of mobile payments in certain areas are actually higher than many of the predictions had expected them to be. While smartphone wallets continue to struggle to take off, certain banking behaviors are skyrocketing. The check deposit sector of mobile payments has proven to be faster in its growth and stronger overall than even the most bullish advocates of the industry had predicted. This particular…
Read MoreMobile payments use in the United States has doubled
Survey by IDC Financial Insights shows that Americans are embracing smartphone transactions. According to a mobile payments survey conducted by IDC Financial Insights, there has been a doubling in the popularity of transactions completed through smartphones in the United States. The research was conducted in May 2012 and looked into emerging pay method technologies. What it discovered was that 33 percent of respondents had used their devices for mobile payments at least once. It also identified significant growth in the area of prepaid cards. The report on the results indicated…
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