Proof Point
Proximity mobile payments expected to become more pervasive in the U.S., reaching $190 billion in value by 2021
U.S. Proximity Mobile Payments Transaction Value
2014 – 2021F (US$ billions)
| Note: | Proximity mobile payments are defined as point-of-sale transactions that use mobile phones as payment method, either via tapping, waving or similar functionality; values shown above exclude transactions made via tablets |
Proof Point Findings
- Proximity Mobile Payments – Point-of-sales transactions completed by waving or tapping mobile phones against electronic devices or readers
- Exponential Growth – Expected to rise dramatically from $3.7 billion in 2014 to $190 billion in 2021, increasing at an annual rate of 75%
- Key Growth Drivers – Include continuous adoption of mobile wallets (e.g. Apple Pay, Android Pay, and Samsung Pay) growth in number of merchants accepting mobile payments, and improving proximity payments technology
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Market Disruption |
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Sector |
Financial Services, Wholesale and Retail Trade
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Source |
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Date Last Updated |
March 2, 2018
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