Proximity payment transaction volumes sluggishness can be explained by low rate of rollout of US-based NFC-enabled terminals, a market which is introducing EMV standard and updating its infrastructure, according to the `Mobile Proximity Payments: A Disruption in the Force` report issued by the market research company AITE Group.
However, payment methods such as Samsung Pay, are set to jumpstart interest in mobile payments and mobile commerce. The revamped Google Wallet/Android Pay is also a notable payment method, particularly since it purchased the Softcard (formerly ISIS) NFC payment estate previously developed by AT&T, Verizon Wireless and T-Mobile. As part of the sale all three carriers agreed to load Google Wallet into all the Android devices they sell.
The same report reveals that the US m-commerce sector is expected to reach USD 536.5 billion by 2020, from USD 112.5 billion in 2015, Moreover, the mobile proximity segment increase will be sluggish, reaching USD 487 billion by 2020, as compared to USD 7.5 billion in 2015.
The research was carried out via interviews with more than 50 US CEOs, thought leaders and business managers in the mobile payments and commerce ecosystem.
Check out our Cross-border Ecommerce Research section here for more info on specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation in US.
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