Essential Stats for Decision Making-1 Descriptive Stats-2011
7 Quick Stats that Prove the Importance of Mobile Payments
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7 QUICK STATS THAT PROVE WHY MOBILE PAYMENTS ARE IMPORTANT
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Transcript of 7 Quick Stats that Prove the Importance of Mobile Payments
7 QUICK STATS THAT PROVE WHY MOBILE PAYMENTS ARE IMPORTANT
The future of mobile payments is bright. Yet, many small businesses and retailers are choosing to overlook the idea of mobile payment acceptance and writing it off as “something they will think about later,” meanwhile, the mobile payments space is growing exponentially. Here are 7 quick stats that prove the importance of mobile payments:
Why are Mobile Payments Important?
1. Mobile payments will reach $3 trillion in
volume over the next five years.
2. 23% of Millennials use contactless payments
on a regular basis.
3. 25% of transactions globally are on mobile
devices.
4.By 2019, 1 billion users will use in-store
mobile payments.
5.45% of consumers use mobile payments out
of convenience.
6.The Starbucks mobile app has 16 million active users that make 8 million mobile
payments per week.
7.It is predicted that US in-store mobile
payments will increase from $3.2 billion in 2014 to $487 billion by 2020.
If you do not currently accept mobile payments, you should. With the promising outlook of mobile payments, it is a safe investment to upgrade your POS to have NFC capabilities. Your customers who are already using mobile payments will thank you and your business will be ahead of the curve as more and more businesses onboard mobile payment acceptance.
