Interest in mobile payments is growing rapidly in the US

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Study highlights the growing interest in mobile commerce coming from consumers

Interest in mobile payments is expected to grow in the coming years, powered by the introduction of new payment platforms and services, like Apple Pay. Gartner has released a new study that predicts how this growing interest will affect mobile commerce revenue in the U.S. New mobile payment services are becoming available on a seemingly daily basis, but high profile companies, such as Apple and Google, often attract more attention and generate more excitement in the mobile space, encouraging consumers to participate in digital commerce.

Mobile revenue may account for 50% of all digital commerce revenue in the US by 2017

Gartner’s study predicts that mobile commerce revenue in the U.S. will account for 50% of all digital commerce revenue by 2017. This growth is expected to be powered by the growing attention mobile commerce is receiving and the increased capabilities of smartphones and tablets, as well as the applications they use. Mobile apps are likely to contribute heavily to the growth of mobile revenue, as these apps serve as the primary way people engage in the digital space from their mobile devices. As the application experience improves, people are more likely to use them to purchase products and make payments online.

Study shows that people are becoming more comfortable with mobile shopping

Mobile payments studyThe study also predicts that more than $2 billion in online shopping will be done by the end of 2016. Consumers are becoming more comfortable with the idea of mobile commerce and are beginning to shop online more frequently from their mobile devices. Consumers are also becoming more comfortable with digital assistants, applications that are designed to help consumers fill out their information on retail sites when purchasing products.

Geolocation is becoming a powerful tool for retailers

The study predicts that retailers will begin offering location-based deals to consumers more regularly in the future. These initiatives make use of geolocation technology to provide consumers with special offers from retailers that are close to them. This represents an effective way for retailers to engage with local consumers that are interested in mobile commerce.

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