Mobile Payments To Top $1 Billion in 2013

July 11, 2013

Read original story on mashable.com

Although the mobile payments market is growing slower than projected, eMarketer nonetheless predicts that mobile payments in the US will break the $1 Billion mark this year – and then shoot up to $58 Billion by 2017. The report defines mobile payments as “transactions for goods or services made by scanning, tapping, swiping, or checking in with a mobile phone at the point o sale,” which differs from mobile commerce – defined as purchasing items on a mobile device. Those sales will hit $34 Billion this year. Mobile payments stalled this year due to the “congested landscape of competing technologies,” that will check its growth until about 2016, when eMarketer predicts a consolidation that will allow the medium to take off.

# # #