Mobile Commerce Minute Episode #332:
Mobile payments are taking off – we know this – but it isn’t the amount that is staggering yet, it is the year over year growth. Most of the planet hasn’t even done a transaction yet so we are in the early years. Similar to a batting average in April, percentages are bound to stabilize but right now growth in mobile payments is a vertical line with nothing to slow it down.
A new study by Juniper illustrates this very clearly with a 40% jump in mobile payments from last year. It is still early, and doesn’t come near the $5+ trillion spent on credit cards annually but it is only a matter of time