Forrester: U.S. Mobile Payments Market Predicted To Reach $90B By 2017

By  |  January 16, 2013
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Forrester forecasts that U.S. mobile payments will reach $90 billion in 2017, a 48 percent compound annual growth rate from the $12.8 billion spent in 2012. In a new report titled “US Mobile Payments Forecast, 2013 To 2017,” Forrester outlines the growth drivers and inhibitors for the three mobile payments categories: mobile proximity, or in-store payments; mobile peer-to-peer (P2P) and remittances; and mobile remote commerce, or mCommerce. There are three key takeaways:

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    • Mobile payments adoption will be fueled by unprecedented growth in proximity payments. 

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    • Despite growth in P2P payments, mobile remittances will lag behind.

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    • Consumers adopt mobile payments when it’s clearly better than the next best alternative.

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