5 Data Points On The Fast-Growing Mobile Payments Market That Will Convince You It's Not Hype

Consumers gravitate to convenience. That’s as true with payment technologies as it is with anything else. A prime example is the decades-old trend away from cash or checks and toward credit cards.

Now, the mass adoption of smartphones and tablets has set the stage for a new move — away from fixed-point, card- and cash-based transactions and toward those completed on mobile. The old dream of the “digital wallet” is coming true in a very particular mobile-led fashion.

In a recent report from BI Intelligence, we explain the main types of mobile payments, analyse the state of the mobile payments race, examine the matchup between card readers and near-field communications (NFC), look at how traditional banks, credit card companies, and card processors are responding to the mobile payments threat, and detail who is furthest along in developing the all-in-one solution for merchants and consumers.

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Here are 5 data points that help underscore the explosion:

In full, the special report:

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