More than seventy million US consumers (71.5m) have now made a mobile payment in a store or online, up from 61m in 2014, research by Mercator Advisory Group has found. Overall, 42% of all smartphone owners have made a mobile payment and half of those do so at least once a week.
Apple Pay users are significantly heavier adopters of mobile payments than the average, Mercator found, with 80% of Apple Pay users making a mobile payment at least once a week and 19% making a mobile payment ten or more times in the previous month.
“Smartphone penetration is maturing, gaining broad-based market penetration as most US consumers use their mobile to shop and increasingly buy goods and services in stores and online,” says Karen Augustine, author of Mercator’s Mobile Payments Is Really Here report. “Convenience is driving them to use mobile payments more often at the stores they visit, especially to redeem timely and useful e-coupons, discounts, and loyalty rewards.”