May 28, 2016
While online lending went from one of the most funded segments rich with competition to the one getting hit, mobile payments are still as hot as they have never been. Increased shipment of smartphones combined with the flourishing mobile wallets market, change in consumer habits and growing retail acceptance—mobile payments seem to have all stars lined for success. To enhance and support the trend, developed economies have the device penetration and the infrastructure in place.
In 2015, US mobile payments transactions reached approximately $8.7 billion. According to some predictions, mobile payments are expected to reach $142 billion by 2019.