Forrester: US Mobile Payments to Reach $90 Billion in 2017

Mobile payments have been all the topical rage this week at the National Retail Federation’s 102nd Annual Convention and EXPO. While this burgeoning trend in consumer shopping couldn’t …

73 2
73 2

Mobile payments have been all the topical rage this week at the National Retail Federation’s 102nd Annual Convention and EXPO.

While this burgeoning trend in consumer shopping couldn’t have possibly been envisioned one century ago, the future of mobile payments is certainly coming into sight more clearly than ever today.

“Although retailer investment and consumer adoption have been nascent to date,” says Denee Carrington of Forrester Research, “we see that changing.”

Here’s what the projected numbers look like. Forrester forecasts that US mobile payments will reach $90 billion in 2017, which represents a 48% compound annual growth rate (CAGR) from the $12.8 billion spent last year.

“In my new report out today,” Carrington writes, “I outline the growth drivers and inhibitors for the three mobile payments categories: mobile proximity, or in-store payments; mobile peer-to-peer (P2P) and remittances; and mobile remote commerce, or mCommerce.”

Among the highlights from the “US Mobile Payments Forecast, 2013 to 2017” are:

  •     Mobile payments adoption will be fueled by unprecedented growth in proximity payments.
  •     Despite growth in P2P payments, mobile remittances will lag behind.
  •     Consumers adopt mobile payments when it’s clearly better than the next best alternative.

In today’s blog post, Carrington delves deeper into each point. It’s a fascinating read that can be found here.

In this article

Join the Conversation

2 comments

  1.    Reply

    The numbers are not at all surprising, people all over the world enjoy online services, web technologies are now introduced in every sphere of our life. For a certain period I use already mobile banking and I love it, payments online are extremely convenient, loans online are already available, I guess soon people will be surprised to see real money more than to hear about $90 billion turnover in the web.
    Jull from http://www.cashloansonlinefast.com/

  2.    Reply

    That’s an interesting information and I really think that it have to be true because these days people just can not imagine ther lives without mobile phones. It’s possible to make everything with a help of your smartphone so you can make shopping, pay bills and take out loans online just using your phone. Mobile marketing is very popular today and I think that in 2017 most people will make different payments only with a help of their phones and will forget about using traditional services. It's very convenient and saves time, you do not need to go somewhere and wait in line that's why today's customers use maximum of mobile opportunities.