MADISON, Wis. (12/7/15)--After several years of anticipated growth, proximity payments--those made at the point of sale directly from a mobile phone--are expected to triple in 2016, eMarketer reports.
Transaction value will triple in 2016 due to a growing user base, broader merchant acceptance and the greater frequency of consumers using their phones to make point-of-sale payments on medium- and high-priced products.
eMarketerexpects the total value of U.S. proximity mobile payment transactions will more than double from 2014 to reach $8.71 billion this year. eMarketer anticipates that 2016 will be an inflection point for mobile payments in the United States, with transaction value tripling to $27.05 billion.
Value will more than double in 2017 and grow in excess of 80% through the rest of the forecast period. By 2019, the total value of mobile payment transactions in the United States will hit $210.45 billion.