Tag: apple

Mobile payments volume in the US may reach $149 billion in 2019

| November 20, 2014

Report highlights the aggressive growth of mobile commerce in the United States

A new report from Forrester Research predicts that mobile payments volume in the United States will reach $149 billion in 2019, up from the $50 billion in payments volume currently. Mobile commerce is still a relatively new concept, only rising to prominence over the past few years. In a relatively short amount of time, consumers have become enthralled with the idea that they can make payments for products online and at physical stores with little more than their smarthphones and the demand for mobile-centric services is rising quickly.

Mobile payment services may become mainstream within the next five years

Several companies have been working to offer consumers mobile commerce services that are both convenient and secure, but none have yet been able to build a platform that has seen mainstream acceptance. Consumers seem to prefer using a wide variety of platforms and services, switching from one to the next as they see fit. Within the next five years, however, the report predicts that this will change and some platforms will become favored among consumers, while others may fade into obsolescence.

Retailers are feeling pressure to engage mobile consumers more effectively

Mobile Payments to grow in the USPeople are becoming more reliant on their mobile devices. As such, they are looking for services that can offer them more than the ability to pay for products online. The demand for physical, in-store mobile payments is growing quickly and retailers are feeling pressure to address this demand and engage mobile consumers. Some retailers are building their own mobile commerce platforms, while others reach out to companies like Apple and Google in order to connect with mobile consumers.

In-store mobile transaction volume may reach $34 billion by 2019

The report predicts that Apple Pay will help accelerate growth in physical mobile payments. According to the report, in-store mobile transaction volume will reach $34 billion in the U.S. by 2019. Services like Apple Pay will play a considerable role in powering this growth. As retailers see more success with in-store mobile payments, they may choose to become more aggressive in the mobile commerce field.

Apple mobile payments service is gaining momentum

| November 19, 2014

Apple Pay is beginning to establish a foothold among retailers in the US

Apple Pay is slowly gaining momentum despite the relatively large number of retailers that are simply not ready to accept mobile payments. Apple’s new payment platform is nearly a month old now and has yet to find the monumental success that Apple had hoped to see in a relatively short amount of time. Apple’s retail partners have been somewhat impressed with the payment service however, reporting an increase in mobile spending among customers.

McDonald’s reports significant growth in mobile transactions, thanks to the Apple Pay service

McDonald’s is one of the early adopters of Apple Pay, having deployed the service in 14,000 stores throughout the U.S. The company has announced that Apple Pay accounts for 50% of its mobile transactions. The number of people  making payments through the service at McDonald’s stores has been growing significantly over the past few weeks. Other retailers, such as Whole Foods, have reported similar results, with Whole Foods reporting that more than 150,000 mobile transactions have been made through Apple Pay since launch.

Retailers are looking for new services they can use to effectively engage mobile consumers

Apple Mobile Payments gains momentum with retailersRetailers have shown strong interest in mobile payments for some time, but few have made steps to engage the mobile audience in the past. With the demand for mobile-centric services on the rise, retailers have been looking for platforms they can use to accommodate this demand. Apple Pay is a relatively new service, but has managed to help retailers engage mobile consumers and an effective way.

No lack of competition for Apple Pay

Apple is competing with several other large companies that have entered into the mobile payments space with their own platforms. Google is one such company, having launched its Wallet platform in 2011. Samsung recently unveiled plans to launch its own mobile payment service, which will initially only be available in the Asian market. Several small companies also offer mobile payment services, some of which are actually more popular than those offered by their larger counterparts.