2013: a pivotal year for mobile payments?


We support reforms to the financial marketplace that protect consumers from unscrupulous banks and lenders.

By Consumers Union on Wednesday, February 27th, 2013

Forrester Research has projected that by 2017, mobile payments in the US will reach $90 billion.  And in looking at the near future, one of their analyst’s blog states; “Mobile payment and digital wallet providers face significant hurdles to achieving adoption at scale, and 2013 will be a pivotal year in that quest.”

There has indeed been more evidence that consumers are increasingly using their mobile devices to make payments, either shopping or paying bills.

In the area of mobile payments, a couple of the more successful companies utilizing mobile payments have reported a growing number of consumers using their applications.  Starbucks’ mobile app has been very popular, and conducts about 2.1 million transactions a week.  PayPal experienced a strong holiday season last year, and have had over 120 million downloads of their app.

We suspect that Forrester Research may be correct in that 2013 will be a pivotal year for mobile payment adoption by consumers.  Have you made a mobile payment yet?   Share your story!

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