Clearly the industry is of two minds over the issue of mobile payments. Some expect mobile-payment systems like ISIS and Google Wallet to grow very slowly, even over the next 4-5 years. The Acquity Group is more optimistic, and believe over the next three years mobile payments will grow to $690 billion dollars a year.
Acquity Group isn’t just looking at NFC-based digital wallets, but all forms of mobile payments. That list includes apps that let you pay in specific stores (e.g. Starbucks), texting an authorization code to pay with SMS, and even smart phone credit card readers. Think that’s a lot to take in? They must have anticipated that, as they created a handy infographic to explain mobile payments, and what they expect from them over the next three years.
This is your chance to be “that guy” at the next party who can talk knowledgeably about mobile payment systems, so read up!
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