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The market for mobile payments in the US is projected to reach the volume of $ 142 billion in 2025, according to a report of research company to Forrester, which is almost three times more than today -. $ 50 billion in the course of the investigation the company talked to several players payments market, including PayPal, Verifone and Visa. They confirmed the explosive growth of mobile commerce.
Companies like Google, PayPal, and AT&T have tried for years to create their own universal mobile wallets. However, their decisions did not receive strong support. Forrester says the market has matured over the past five years, with a tipping point over the next five years, bringing mobile payments to the mainstream.
Analysts expect the recent launch of Apple Pay, a mobile payment system, to boost mobile payments at the checkout. This market segment is projected to reach $ 34 billion by 2025 in the United States. This is almost 10 times more than the projected volume in 2021.
However, the most significant growth will be seen not in mobile payments at the checkout, but in remote mobile payments using apps and mobile websites. Over the next five years, their volume will grow to $ 91 billion in the United States.
In addition, Forrester analysts predict significant activity in a small but important area - P2P payments. Services like Venmo, Square Cash, PayPal, and even Gmail allow you to quickly send funds to another user. According to experts, the volume of P2P transfers made using mobile devices will reach $ 17 billion by 2025, up from $ 5.2 billion this year.
Companies like Google, PayPal, and AT&T have tried for years to create their own universal mobile wallets. However, their decisions did not receive strong support. Forrester says the market has matured over the past five years, with a tipping point over the next five years, bringing mobile payments to the mainstream.
Analysts expect the recent launch of Apple Pay, a mobile payment system, to boost mobile payments at the checkout. This market segment is projected to reach $ 34 billion by 2025 in the United States. This is almost 10 times more than the projected volume in 2021.
However, the most significant growth will be seen not in mobile payments at the checkout, but in remote mobile payments using apps and mobile websites. Over the next five years, their volume will grow to $ 91 billion in the United States.
In addition, Forrester analysts predict significant activity in a small but important area - P2P payments. Services like Venmo, Square Cash, PayPal, and even Gmail allow you to quickly send funds to another user. According to experts, the volume of P2P transfers made using mobile devices will reach $ 17 billion by 2025, up from $ 5.2 billion this year.