The use of contactless mobile payments soared last year, and according to a recent report by analyst firm eMarketer, in-store mobile payments usage grew 29% in 2020 in the U.S. alone, as the pandemic pushed consumers to swap out cash and credit cards for safer mobile payments option at point-of-sale, says TechCrunch.
America has grown to become the second-largest contactless market in the world, with $465.1 billion worth of mobile payment transactions, predicted to grow to $698 billion in 2023. Merchants are quickly catching up to customer demands in the space, and a mid-year survey published in 2020 by the National Retail Federation and Forrester found that no-touch payments had increased for 69% of retailers surveyed.
Apple Pay remains the top mobile payment player in the United States, with 43.9 million users in 2021 and Starbucks is still the No. 2 player with 31.2 million users.
This article was written by Sarah Perez and originally published on TechCrunch.
