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Mobile devices are edging closer to fulfilling their long-delayed promise as digital wallets.
Consumers are beginning to see the advantage of channeling offline payments through their mobile devices, rather than carrying around clunky coins and cash — even debit and credit cards. Consumers are primed to go wallet-free and begin paying for goods and services via their mobile devices, and as a result, mobile payments are set to explode
Via Tyler Borosavage
Even though we are in the early stage of mobile payment adoption it seems like mobile payments are set to grow exponentially. Mobile payments have quadrupled since last year. Increased smartphone penetration will be a catalyst for the growth.