US Mobile Proximity Payments Forecast 2024

How Wallet Integrations and Feature Innovations Are Driving Growth

US proximity mobile payment transaction value is booming, as Apple, Google, and Samsung race to add wallet features that make paying via mobile wallet stickier. Payment providers will play a key role in developing features that put consumers’ commerce in one place.

Key Question: What factors are driving mobile proximity payment growth generally and among key wallet players?

Key Stat: Mobile wallets are becoming an in-store retail staple. US point-of-sale (POS) transactions made via these wallets will pass the $1 trillion milestone in 2027, per our forecast, with about half of smartphone users making these payments the following year.

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Table of Contents

  1. Executive Summary
  2. Mobile proximity payments are entering the mainstream
  3. Per-user mobile proximity spend will grow as users adopt digital wallet features
  1. Apple Pay leads on engagement and features—but regulation looms
  2. Google Pay holds its own
  3. Samsung Wallet faces an uphill battle
  1. What does it mean for payment providers?
  2. Sources
  3. Media Gallery

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David Morris