EMarketer released new projections that indicate U.S. mobile payments will top $1 billion by the year’s end. The market research firm now expects mPayments to reach $58 billion by 2017.
The New York-based organization said mobile payments are being driven by both increases in both small purchases and larger sales.
These expectations come despite delays and adoption issues that eMarketer said is hindering mobile wallet initiatives, and by extension, total U.S. mobile spending.
For more data, see the full report here.