BI Intelligence
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In the US, the in-store mobile wallet space is becoming increasingly crowded. Most customers have an option provided by their smartphone vendor, like Apple, Android, or Samsung Pay. But those are often supplemented by a myriad of options from other players, ranging from tech firms like PayPal, to banks and card issuers, to major retailers and restaurants.
With that proliferation of options, one would expect to see a surge in adoption. But that’s not the case — though Business Insider Intelligence projects that US in-store mobile payments volume will quintuple in the next five years, usage is consistently lagging below expectations, with estimates for 2019 falling far below what we expected just two years ago.
See the rest of the story at Business Insider
See Also:
- Brex raises $150 million as it takes measures to adapt its business following shrinking revenue
- Starling has hit some speed bumps with its business banking proposition
- PayPal rolled out QR code payments as contactless options become more popular amid the pandemic
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