Forecast Report

US Mobile Payments Forecast, 2014 To 2019

US Mobile Payments Will Reach $142 Billion By 2019

November 17th, 2014
With contributors:
Julie Ask , Lily Varon , Zia Daniell Wigder , Susan Wu , Rebecca Katz

Summary

The media frenzy around mobile payments — most recently Apple Pay — has reached fever pitch and led some industry spectators to conclude that a payments revolution is at hand. Not so. The adoption of mobile payments is an evolution — not a revolution — and the evolution is well underway. Although the landscape of mobile payment providers is in an ongoing state of flux, the ecosystem and mobile capabilities are maturing and consumer and merchant adoption is accelerating. Over the next five years, US mobile payments will grow to $142 billion. This report outlines Forrester's US mobile payments forecast through 2019, identifies where the fastest growth will occur and why, and discusses what eBusiness and Channel Strategy pros at financial institutions, merchants, and vendors involved in payment strategy can expect through 2019.

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