Mobile payments will be 3 times bigger next year

Women mobile payments texting trends

eMarketer has predicted that by the end of 2016, the usage in the United States market will have tripled.

Among the most recent forecasts issued by eMarketer is one that has been of great interest to those in the mobile payments marketplace, as they have now said that the use of these transactions will continue to climb to the point that they will have tripled by the close of next year.

This represents a significant growth of the use of smartphones at checkout counters and other points of sale.

The eMarketer proximity mobile payments forecast has said that in the United States, the total value of these transactions will rise by 210 percent next year. Proximity m-payment transactions are those occurring at the point of sale that use smartphones as a method of payments, by way of waving, tapping, scanning or some other similar type of functionality.

This year, the forecast showed that the total transactions in smartphone based payments will reach $8.71 billion in the United States, with an average annual total of $376 per user. Next year, the total figure will reach $27.05 billion, with the average spending per user for the year reaching $721.47.

The predictions are that total mobile payments use will rise faster than the average user spending next year.

Women mobile payments texting trendsThe reason for that trend will be that there will be an influx of new users that will start to employ the technology, which means that the total spending will spike when compared to the average individual spend.

According to Bryan Yeager, analyst from eMarketer, “Several factors will drive substantial mobile payments growth in the US. Mobile wallets like Apple Pay, Android Pay and Samsung Pay will become a standard feature on new smartphones.” Yeager went on to say that “Also, more merchants will adopt point-of-sale systems that can accept mobile payments, and incentives like promotions and loyalty programs will be integrated to attract new users.”

The predictions from the firm are that there will be 23.2 million mobile payments users in the United States by the end of this year, but that this will rise by 61.8 percent to reach 37.5 million next year.

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