According to our recent mobile payments survey, 29.0% of US smartphone users ages 18 and older, or 63 million people, will use a mobile phone to pay for a purchase at a physical point of sale this year.
Up roughly 60% from 2017, these consumers will pay for nearly $80 billion worth of goods and services via their smartphone at a physical point of sale.
For years, there has been a buzz about the game-changing mobile payment options on the horizon. Experts touted that it wasn’t a question of if, but rather a question of when.
As consumer usage of mobile devices continues to climb, so too has the demand for mobile payment options. More and more shoppers are turning to their smartphones and other mobile devices to pay for goods and services.
Ten years ago, Apple released the first iPhone. Desktop search was king. Today it is really a thing of the past. Within this short period of time, consumers have learned that anything they need is available to them whenever and wherever they want. According to our recent Mobile Technology Monitor™, 75% of consumers use a mobile device when searching for a local product or service. Up nearly 50% from four years ago, it is way past the tipping point. Mobile devices have moved to the center of consumers’ multi-platform universe.