As mobile commerce continues its rapid adoption by more and more companies, consumers’ comfort with paying by mobile will become increasingly important.<\/p>\nAs mobile commerce continues its rapid adoption by more and more companies, consumers’ comfort with paying by mobile will become increasingly important.<\/p>\n
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An interesting infographic released by mobile banking solution provider Intuit<\/strong> provides an informative look at consumers’ current payment behavior and preferences, and how these are evolving towards mobile payments. \n At the same time, Intuit’s infographic explores a additional trend towards “cardless” payments such as mobile, online, and NFC. Amounting to about $740 billion revenue in the US today, these alternate payments are expected to explode to about $2.7 trillion by 2015, dwarfing the amount of cash transactions.<\/p>\n At the moment, mobile payments represent about 5% of purchases, but they are growing quickly. <\/p>\n The infographic provides several key reasons why consumers today might not use mobile payments and found:<\/p>\n The key thing for any new technology is to convince consumers that it will make their life better. The infographic suggest that while only 9% consider mobile payments to be mainstream today, 83% expect it to be by 2015. Furthermore they expect that consumers using mobile payments will increase from 1.8 billion today to 2.5 billion by 2015. <\/p>\n \n \n
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\nThe much of the world today is clearly moving from cash to non-cash forms of payment such as credit and debit cards. Currently, the use of cash is expected to decrease by some 4% per year in the US, and will be only about $1 trillion by 2015.<\/p>\n\n
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