Mobile Payments Poised To Explode With The Aggressive Rollout Of Consumer And Merchant-Side Apps

Mobile devices are edging closer to fulfilling their long-delayed promise as digital wallets.

Consumers are beginning to see the advantage of channeling offline payments through their mobile devices, rather than carrying around clunky coins and cash — even debit and credit cards. Consumers are primed to go wallet-free and begin paying for goods and services via their mobile devices, and as a result, mobile payments are set to explode.

In a new report from BI Intelligence, we explain the main reasons why mobile payments are poised for takeoff, provide proprietary estimates for the growth and size of the mobile payments market in the years to come, and analyse the specific trends that will help shape the growth in mobile payments, including user concerns around security. We track the demographic and geographic nature of the consumers who will drive the growth, merchant side adoption, and the mobile payments solutions that will lead the charge.

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Here’s a brief overview of the current state of the mobile payments race:

In full, the special report:

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