Mobile payments will make up only 1 percent of US transactions by 2019

two hands mobile payments

Consumers will still be using their plastic credit and debit cards the vast majority of the time in 5 years from now. The release of Apple Pay has caused many people to think that this is the point at which mobile payments will be taking off, but a recent report has suggested that by 2019, these smartphone based transactions will still make up only 1 percent of all consumer spending in the United States. Many feel that the growth of Apple Pay is restricted as it does not share spending…

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Mainstream adoption is eluding mobile payments

mobile payments credit card

Mobile commerce continues to be on the cusp of going mainstream Mobile payments have been on the verge of becoming mainstream for years now. The idea is attractive to people that have become very reliant on smartphones and tablets, but it has yet to take hold with most people. The idea of shopping from a mobile device is very similar to the concept behind e-commerce. Shopping online is, perhaps, one of the most significant trends to emerge in the retail and business sectors in the past decade. In general, however,…

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Mobile payments may find strong growth in the US

Mobile Payments market trends

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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US Bank introduces new mobile commerce app

mobile payments trends

Application puts a new twist on mobile shopping US Bank has developed a new application that is meant to serve as a mobile commerce platform for consumers. The application is designed to allow consumers to quickly purchase products that they may come across in their daily lives. In this way, it is quite similar to other applications of the same nature, but the application is able to provide information on products using image recognition and audio. As such, the application can be used to bring up a list of products…

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Mobile payments are used by over half of American smartphone owners

Mobile payments platform

The CUNA has now released its latest survey data which has found that these device users are purchasing in droves. According to the latest survey data that has been released by the Credit Union National Association (CUNA), among American smartphone owners, more than half have used their device for mobile payments purposes, whether it be buying a digital product online or tapping it at a checkout counter – or pretty much anything in between. The survey also showed that security remains the uppermost concern of device users making purchases. Though…

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