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US mobile payment market will exceed US $2.5 trillion in 2025 From eMarketer

The following is the US mobile payment market will exceed US $2.5 trillion in 2025 From eMarketer recommended by recordtrend.com. And this article belongs to the classification: eMarketer, Electronic Commerce, mobile payment .

Consumers are more and more interested in mobile payment and mobile shopping. A survey conducted by McKinsey in June 2020 found that 30% and 28% of US consumers expressed interest in these two technologies, more than 10 percentage points higher than similar surveys in March 2020. With the continuous development of Amazon go and other digital priority retail experience, the industry expects a large number of contactless stores to emerge in the future.

In September, Amazon also launched one fingerprint scanning technology, which can identify customers when they enter the store. Amazon hopes to license these technologies to other physical retailers, which will greatly expand its business scope and accelerate its popularity.

The integration of Amazon’s account and payment systems with in store technologies such as computer vision systems and smart shelves is part of the appeal of Amazon’s contactless stores, but not all cashless stores rely on computer vision technology. Shekel brainweight has developed an independent retail store model, which has an intelligent shelf system supporting AI, and calculates the inventory by weighing the items on the shelf.

According to guy Moshe, co-founder and chief technology officer of shekel brainweight, the technology works with Hitachi’s lidar system to track shoppers, rather than using facial recognition. Groupe casino is currently testing this form in France. These stores can be placed anywhere with a cellular network, especially 5g. But Moshe predicts that they cost less and require less computing power than stores that support computer vision.

mobile payment

Shopping experiences using computer vision, lidar and other inventory management and customer identification technologies should become more common. Emarketer predicts that mobile payment in the United States will rise from $705.28 billion in 2019 to $2.541 trillion in 2025, covering mobile e-commerce, near-field payment and P2P payment. In short, mobile devices are becoming the core of payments to retailers. More reading: Neo: more than 8 / 10 Japanese consumers do not use mobile payment because of security concerns emarketer: China’s third-party providers promote the development of mobile payment emarketer: India’s new payment standards may slow down the growth of e-commerce sales More than 4 / 10 of online shopping consumers like to use paypal for payment emarketer: it is estimated that more than half of smart phone users in the United States will use contactless mobile payment in 2025 emarketer: three quarters of Chinese smart phone users will use near-field payment this year emarketer: the transaction volume of P2P mobile payment in the United States will increase by 55% in 2017 emarketer: it is estimated that the transaction volume of near-field mobile payment in the United States will reach US $49.29 billion in 2017 Yuan emarketer: India’s financial technology is developing towards diversification. China’s mobile payment market is not only huge, but also growing rapidly. Emarketer: it is estimated that 521.1 million people will use mobile payment in China in 2018. Motorola: retailers will focus on mobile retail terminals. Emarketer: it is estimated that Apple pay users will reach 30.3 million in 2019, ranking first in the market share

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