In-store mobile-payment volume soars

Researchers expect strong growth for contactless payments in the United States, despite the low adoption figures with American consumers.

eMarketer forecasts in-store mobile payments will top $1,000 per user for the first time this year to reach $1,026, and predicts this will surge to $2,646 annually in 2021.

Proximity mobile payments – defined as any in-store payment “made by scanning, tapping, swiping, or checking in with a mobile device” – will total $49.3 billion in 2017, up 78% from a year earlier, according to eMarketer estimates. The research firm forecasts such payments will surge to $190 billion in 2021.

Perhaps unsurprisingly, users tend to use contactless payment for low-value transactions – this year, 28% will be for items and services totalling less than $20, while goods priced over $100 will account for 21% this year, but just 15% in 2021.