News

In-store mobile payments to see major US boom through 2021

January 27, 2017

view larger

According to Statista, a company that aggregates and analyzes data, 35 million Americans used a smartphone to make an in-store payment last year, and this number will rise sharply in the future.

The company estimates that total mobile payment transaction value could rise from $25 billion in 2016 to nearly $275 billion by 2021 — an average annual growth rate of 62 percent, as shown in the chart at right.

Download the free report, "Fintech: Digital Payments."