Proximity Mobile Payment Transactions Set to Triple in 2016

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2.16.2016

Mobile payments may have gotten off to a less than stellar start, but it’s only a matter of time before things will be heating up considerably. A new eMarketer report has stated that 2016 will be the year that proximity mobile payments in the US show some serious traction to the tune of $27.05 billion. That’s more than triple the 2015 total of $8.7 billion (which happens to be double the 2014 total).

While the trajectory is expected to slow down, the study forecasts that overall mobile payment transactions will reach $210.45 billion by 2019. These numbers include all versions of mobile device payments including scanning, tapping, swiping or checking in at the point-of-sale (but excludes purchases made remotely on devices for delivery – that’s another thing altogether).

So for those of you who haven’t warmed up to the mobile payment scene, it might to time to consider your options. Because by all accounts, just about everybody’s going to be getting into the game.

Have you tried mobile payment yet? What do you think?

By the Cel-Fi Team

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