In-Store Mobile Wallet Payments to Skyrocket by 2017
The value of in-store mobile wallet payments in 2017 will reach 78 billion euros in Europe and North America, according to Berg Insight. Berg expects the value of in-store mobile wallet payments in Europe to grow from 100 million euros to 45 billion euros between 2012 and 2017, while the active user base for mobile wallet services will grow from 500,000 to 42 million. In North America, Berg predicts in-store sales to grow from $500 million in 2012 to $44 billion in 2017, with the user base expanding from 7.5 million to 29 million. Berg notes the North American market currently is more mature, due to major pushes by retailers such as Starbucks and payment firms including PayPal, Google, Square, and Isis. However, Berg points to major increases in the number of both NFC-enabled handsets and point of sale terminals made available last year, with shipments of NFC-enabled handsets jumping by 300 percent to 140 million units worldwide and sales of NFC POS terminals doubling to just under 4 million. In Europe, Berg says nearly half of European Union nations will have access to NFC-enabled handsets by the end of 2013.
From “Mobile Wallet Payments Predicted to Reach €78bn in Europe and North America by 2017”
Silicon Republic (06/05/13) Burke, Elaine