Report: US mobile payments market to reach $23 billion in 2016 (10 Feb 2016, The Wise Marketer)
The Wise Marketer - Home Subscribe to our RSS feed!   Share it!   
Email this page to a friend! Tweet this! Share this via LinkedIn! Share this on Facebook! Share this on Google Plus!
  Mobile Edition Tablet Edition
   The Wise Marketer          Customer Strategy Network             Log In          Register for Free   
  
Stay up to date with What's Hot in the world of Customer Loyalty and Marketing All the latest Customer Loyalty and Marketing News and Developments worldwide - just the facts Facts, Figures and Stats to support your Loyalty, Engagement and Marketing initiatives Opinion and Analysis from the world's most respected Customer Loyalty and Marketing luminaries
The Loyalty Guide - the only complete global Guide to Customer Loyalty, Engagement and Marketing Feature Articles and How-To Guides by the world's most respected Customer Loyalty and Marketing experts Details of the top Customer Loyalty and Marketing Conferences worldwide Search The Wise Marketer from top to bottom!
   The Wise Marketer   

Get your headlines by email every Thursday - Free!

Report: US mobile payments market to reach $23 billion in 2016

   
Swap to the printable version of this page
Print!
 

Wednesday February 10, 2016                      Tweet this article

 


The mobile payments future is finally upon us: according to market research publisher Packaged Facts, the U.S. market for mobile payments made at the retailer point of sale will increase to $23 billion in 2016, up 54% from 2015. The Packaged Facts report "Mobile Payments in the U.S., 5th Edition" projects robust growth through 2019 based on the almost certain continued movement toward smartphone usage saturation and an increase over time in the percentage of smartphone users making mobile payments at the point of sale.

Presently the market benefits from activity involving a quartet of major industry players: PayPal, Android Pay, Apple Pay, and Starbucks. Significant payment usage via the Starbucks private label mobile app and the PayPal general-use digital wallet, in addition to growing usage traction for Apple Pay and Android Pay, are at the centre of this growing industry.

The report views PayPal, with roughly 80 million U.S. account holders, as the undisputed leader in U.S. e-commerce, P2P and mobile payments. Money quote:

"[PayPal] leads with a payment agnostic, easy-to-navigate omni-channel mobile payments solution allowing users to access their accounts anytime, anywhere from any Internet connected device. Its mobile payment app runs across all major smartphone platforms, giving it strong device-based reach. Recent innovations include in-app payments, keeping mobile users within the app where they're making the payment instead of sending them to the PayPal site; OneTouch one-click mobile check-in; and a variety of mobile payment options, including photo/location-based mobile check-in, and QR code/PIN. In addition, by weaving social media into the mix, PayPal's Venmo P2P service has attracted a strong niche of Millennials to its application."

Other key trends highlighted in the research include:

  • Google has achieved parity with Apple. Invigorated by its purchase of wallet competitor Softcard and the launch of Android Pay, Google is poised to continue its gradual, upward mobile payments path. According to Packaged Facts' survey results, usage is neck and neck with Apple Pay, with 8% of smartphone users having used Android Pay at the cash register/actual sales location to pay for a transaction in the last 12 months, the percentage reported for Apple Pay.
  • Apple Pay has helped reinvigorate mobile NFC payments. Within another three years, Apple will bring mobile payments into the mainstream, on the backs of 70 million potential U.S. Apple Pay users. For now, globally, Apple has surpassed 1 billion active devices. By Packaged Facts estimates, almost 30% of U.S. adults have an iPhone, giving Apple Pay significant device-based reach. Apple Pay also blends mobile payments with features and benefits beyond payments.
  • Starbucks is a runaway industry success story. While Apple Pay and other NFC-based solutions will likely gain steam, Starbucks QR code-based solution is today's runway success story. This is due in large part to its private label, retailer-exclusive approach (the mobile app need only be accepted at Starbucks), the brand's highly engaged base of frequent users, its relationship to the company's robust loyalty programme, and its phone agnostic QR code authentication (virtually any smartphone will do). Very simple to use, it bridges omni-channel shopping and layers a plethora of added-value features and benefits into a strong loyalty/payments proposition.

You can download the full report here.


More Info: 

http://www.packagedfacts.com

> The Customer Loyalty Marketing Guide

Tell a friend about this article Tell a friend   or   Tweet this article

Have your loyalty news delivered - free.

Get all the most important customer loyalty and marketing news by email every Thursday, and it's still absolutely Free ...
Sign up!

 

What is The Wise Marketer?

We're the only truly unbiased, global source of news & research for customer loyalty and marketing professionals...   Join Free Here

See The Loyalty Guide 7 up close, and find out how to increase profits and market share with more effective loyalty marketing!

Join nearly 13,000 other loyalty and marketing professionals and get our free weekly news roundups...

Sign Up For Free

See The Loyalty Guide 7 up close, and find out how to increase profits and market share with more effective loyalty marketing!

Subscribe and follow...

Get our free weekly newsletter
Follow us on Twitter
Access our RSS news feed

Hot off the presses...

What's been happening recently?

Survey: Banks, know thy customers - Consumers do not believe their banks treat them as individuals and want their banks to understand them better, according to the results of a new consumer banking survey conducted by Belgium-based data ...
UK: Survey reveals Brits want more from loyalty programmes - The UK's Retail Times has a trove of stats from a recent 3radical survey of British consumers what British marketers already know: UK consumers want more from their loyalty ...
Special offer: Join our FREE Loyalty Academy beta test on July 26! - The Wise Marketer Group is pleased to announce the beta launch of the Loyalty Academy, the first-ever online certification programme for loyalty marketers. As you are all ...
Study: Mobile gamers exposed to loyalty programme spend 12% more - Mobile coalition loyalty platform koomalooma presented this week the results of its study of 5,000 Turkish mobile gamers at Gamescom 2016 in Amsterdam. The research includes ...
UK: Nectar leverages AI in move into the digital age - Long-running coalition loyalty progammes such as Nectar in the United Kingdom and Air Miles in Canada were born in the age of direct mail and paper vouchers and now find themselves ...
Insight: Priceline leverages AI to build loyalty - Seeking Alpha provides a look inside the plans of Booking.com, a division of Priceline, to combat hotel loyalty programmes not by competing with a loyalty programme of their own, but by ...
India: Aimia launches Nectar India - Last week, Montreal, Canada-based Aimia Inc extended their Nectar coalition loyalty brand into India with the launch of Nectar India, an e-commerce coalition programme, launched in partnership with ...
Insight: Online hotel wars heat up - but at what price? - The Wall Street Journal reports that the tension between major hotel brands and online travel booking sites has escalated into a shooting war, with hotels now pursuing aggressive ...
Canada: Huggies adds mobile, bonuses to reward programme - Canada's Marketing magazine reports that Kimberly-Clark's Huggies diaper brand is ditching the traditional boxtop code-entry model of CPG loyalty for a mobile application that ...
Canada: Supreme court upholds BC pharmacy rewards ban - Lots of loyalty news out of Canada this week. Here's the latest: following up on our report out of Canadian provice British Columbia concerning the provincial ban on earning reward ...
Insight: Top mobile loyalty activations of Q2 - The intrepid Alex Samuely at Mobile Commerce Daily has named her top ten mobile loyalty activitations of Q2 2016. That there are enough mobile loyalty launches happening today that Samuely can ...
Insight: How airlines measure customer value - Over at Smart Data Collective, contributor Mark Ross-Smith provides an in-depth look at how airlines leverage data analytics to determine customer value at the individual level. The methods have ...
Canada: mobile startup Drop takes on the "loyalty mafia" - Betakit.com, a publication covering the Canadian startup industry, reports on the ambitious plans of Drop, a Toronto-based loyalty programme startup that aims to disrupt the consumer ...
Insight: How valuable is non-transactional data? - We always enjoy keeping up with the discussions on RetailWire, and this week sees the publication tee up a robust one on the importance of non-transactional data to personalised offers. With ...
Insight: The North Face takes the high road to loyalty - A terrific article from CMO Innovation highlights several best practices for designing and implementing a successful retail loyalty strategy. Apparel manufacturer The North Face found ...
Insight: Is customer experience sufficient to win loyalty? - GeoMarketing has a revealing interview with Thom Kozik, VP of global loyalty for Marriott International, who argues that "loyalty is absolutely a dated concept" and that "generic ...
Insight: Are these the four fundamental attributes of customer loyalty? - CRM guru Denis Pombriant has launched a new article series over at E-Commerce Times discussing the "four basic attributes" required to build customer loyalty in the ...
US: Pepperidge Farm launches digital loyalty programme - US-based baked goods manufacturer Pepperidge Farm has launched its first digital rewards programme for consumers on PepperidgeFarmReward.com. The programme is heavy on experiential ...
Survey: Consumers don't want to give up personal data - Brands are facing an uphill battle when trying to reach connected consumers today; more than half don't want brands to have any of their personal information, according to a new Boxever ...
Brexit won't have significant impact on earning, says Aimia - The recent "Brexit" vote, in which the voters of the United Kingdom voted to exit the European Union, has roiled financil markets and sent multi-national corporations doing ...

  ... Never miss anything important - join nearly 13,000 marketing professionals and get our free weekly newsletter, written by marketers for marketers - sign up here!

 

See The Loyalty Guide 7 up close, and find out how to increase profits and market share with more effective loyalty marketing!
  
                          
   The Wise Marketer   
   Published By & Copyright 2016 Customer Strategy Network / The Wise Marketer. All rights reserved.   
The Wise Marketer - Home Subscribe to our RSS feed! Share this on Facebook! Share this on Google Plus! Tweet this! Share this via LinkedIn! Email this page to a friend!