US Proximity Mobile Payments Forecast 2023

How Major Providers Are Making Wallets More Useful to Win Business as Growth Slows

Report by Jaime Toplin  | Jun 1, 2023
Download
Report
One-Pager
Share
Table of Contents
Report Snapshot
A maturing mobile wallet ecosystem means wallet stakeholders must compete for users’ loyalty and dollars.
Proximity mobile payment user growth is entering a more mature phase as the technology finally mainstreams.
Existing users are engaging with wallets more—propelling spending growth.
Apple Pay’s robust feature innovation and sky-high brand loyalty put it on a stellar trajectory.
Google Pay’s success hinges on how well the brand can harness its dominance beyond mobile payments.
Despite attempts at innovation, Samsung Wallet is becoming a nonfactor in proximity mobile payments.
What’s next for three groups of providers in the space?
Insider Intelligence Interviews
Sources
Media Gallery
About This Report
Proximity mobile payments are finally reaching a critical mass of users, fueling spending growth. While it will slow in the coming years, providers are capitalizing on growth by building multifunctional ecosystems that expand their captive audience and tighten relationships.
Topics
Financial Services
Payments
US
Table of Contents
Report Snapshot
A maturing mobile wallet ecosystem means wallet stakeholders must compete for users’ loyalty and dollars.
Proximity mobile payment user growth is entering a more mature phase as the technology finally mainstreams.
Existing users are engaging with wallets more—propelling spending growth.
Apple Pay’s robust feature innovation and sky-high brand loyalty put it on a stellar trajectory.
Google Pay’s success hinges on how well the brand can harness its dominance beyond mobile payments.
Despite attempts at innovation, Samsung Wallet is becoming a nonfactor in proximity mobile payments.
What’s next for three groups of providers in the space?
Insider Intelligence Interviews
Sources
Media Gallery

Report Snapshot

As the mobile wallet ecosystem matures, US proximity mobile payment engagement gains are lapping user growth. The three largest wallets are having varying degrees of success in securing users and spending—but all are looking to build out their ecosystems and tighten relationships with consumers in the years to come.

Key Question: How are key wallets harnessing proximity mobile payment growth drivers?

US Proximity Mobile Payment Transaction Value, 2020-2027 (billions, % change, and % of retail & food services transaction value)
E-Mail ChartDownload

KEY STAT: US proximity mobile payment spending growth will slow to the low double-digits by 2027—forcing wallets to compete for user loyalty and defeat fragmentation.

Here’s what’s in the full report

2files

Exportable files for easy reading, analysis and sharing.

5charts

Reliable data in simple displays for presentations and quick decision making.

2expert perspectives

Insights from industry and company leaders.

    Table of Contents

    1. Report Snapshot
    2. A maturing mobile wallet ecosystem means wallet stakeholders must compete for users’ loyalty and dollars.
    3. Proximity mobile payment user growth is entering a more mature phase as the technology finally mainstreams.
    4. Existing users are engaging with wallets more—propelling spending growth.
    1. Apple Pay’s robust feature innovation and sky-high brand loyalty put it on a stellar trajectory.
    2. Google Pay’s success hinges on how well the brand can harness its dominance beyond mobile payments.
    3. Despite attempts at innovation, Samsung Wallet is becoming a nonfactor in proximity mobile payments.
    4. What’s next for three groups of providers in the space?
    1. Insider Intelligence Interviews
    2. Sources
    3. Media Gallery

    Charts in This Report

    US Proximity Mobile Payment Transaction Value, 2020-2027 (billions, % change, and % of retail & food services transaction value)US Proximity Mobile Payment Users and Penetration, 2020-2027 (millions, % change, and % of smartphone users)
    US Apple Pay Users, 2020-2027 (millions and % change)US Google Pay Users, 2020-2027 (millions, % change, and % of smartphone users)
    US Samsung Wallet Users, 2020-2027 (millions and % change)

    Interviewed for This Report

    Jenny Cheng
    Google
    Vice President and General Manager, Google Wallet
    Interviewed May 2, 2023
    Pieter de Villiers
    Clickatell
    Co-Founder and CEO
    Interviewed April 19, 2023

    Access All Charts and Data

    Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.
    Gain Access to EMARKETER →
    Log in to EMARKETER
    Download
    Report
    One-Pager
    Share
    Table of Contents
    Report Snapshot
    A maturing mobile wallet ecosystem means wallet stakeholders must compete for users’ loyalty and dollars.
    Proximity mobile payment user growth is entering a more mature phase as the technology finally mainstreams.
    Existing users are engaging with wallets more—propelling spending growth.
    Apple Pay’s robust feature innovation and sky-high brand loyalty put it on a stellar trajectory.
    Google Pay’s success hinges on how well the brand can harness its dominance beyond mobile payments.
    Despite attempts at innovation, Samsung Wallet is becoming a nonfactor in proximity mobile payments.
    What’s next for three groups of providers in the space?
    Insider Intelligence Interviews
    Sources
    Media Gallery
    About This Report
    Proximity mobile payments are finally reaching a critical mass of users, fueling spending growth. While it will slow in the coming years, providers are capitalizing on growth by building multifunctional ecosystems that expand their captive audience and tighten relationships.
    Topics
    Financial Services
    Payments
    US
    Table of Contents
    Report Snapshot
    A maturing mobile wallet ecosystem means wallet stakeholders must compete for users’ loyalty and dollars.
    Proximity mobile payment user growth is entering a more mature phase as the technology finally mainstreams.
    Existing users are engaging with wallets more—propelling spending growth.
    Apple Pay’s robust feature innovation and sky-high brand loyalty put it on a stellar trajectory.
    Google Pay’s success hinges on how well the brand can harness its dominance beyond mobile payments.
    Despite attempts at innovation, Samsung Wallet is becoming a nonfactor in proximity mobile payments.
    What’s next for three groups of providers in the space?
    Insider Intelligence Interviews
    Sources
    Media Gallery
    Download PDF

    authors

    Jaime Toplin

    Contributors

    Eleni Digalaki
    Principal Analyst
    David Morris
    Principal Analyst
    Oscar Orozco
    Director, Forecasting
    Melissa Rosenberg
    Senior Researcher

    Latest Reports

    Canada Mobile Banking Emerging Features Benchmark 2024​
    Report
    Canada Mobile Banking Emerging Features Benchmark 2024​
    Canada Digital Ad Spending 2024
    Report
    Canada Digital Ad Spending 2024
    Restaurant Digitization 2024
    Report
    Restaurant Digitization 2024
    What Advertisers Can Learn From Privacy Industry Events 2024
    Report
    What Advertisers Can Learn From Privacy Industry Events 2024
    Maximizing the Impact of B2B Event Marketing
    Report
    Maximizing the Impact of B2B Event Marketing
    Bank Brand Safety on Social Media
    Report
    Bank Brand Safety on Social Media
    US P&C Insurance Trends to Watch in 2024
    Report
    US P&C Insurance Trends to Watch in 2024
    Temu, TikTok, and China’s Ecommerce Players in Western Europe
    Report
    Temu, TikTok, and China’s Ecommerce Players in Western Europe
    Digital Audio Ad Spending Forecast and Trends Q2 2024
    Report
    Digital Audio Ad Spending Forecast and Trends Q2 2024
    What Banks Need to Know About Gen Alpha
    Report
    What Banks Need to Know About Gen Alpha
    The State of Influencer-Brand Deals 2024
    Report
    The State of Influencer-Brand Deals 2024
    Ad Measurement Trends H1 2024
    Report
    Ad Measurement Trends H1 2024
    Brand Safety 2024
    Report
    Brand Safety 2024
    US OTT and Pay TV Viewership Forecast 2024
    Report
    US OTT and Pay TV Viewership Forecast 2024
    US Ad-Supported vs. Ad-Free Streaming Video Viewers 2024
    Report
    US Ad-Supported vs. Ad-Free Streaming Video Viewers 2024

    Popular on EMARKETER

    Data Drop: 5 Charts on Netflix Advertising
    Article
    Data Drop: 5 Charts on Netflix Advertising
    Google delays the end of cookies for a third time after regulator and industry pushback
    Article
    Google delays the end of cookies for a third time after regulator and industry pushback
    Streaming service loyalty wanes as serial churning rises
    Article
    Streaming service loyalty wanes as serial churning rises
    PubMatic and GroupM will offer cookieless ad inventory
    Article
    PubMatic and GroupM will offer cookieless ad inventory
    Covert Amazon team reportedly gathers intelligence on Walmart and other rivals
    Article
    Covert Amazon team reportedly gathers intelligence on Walmart and other rivals
    TikTok launches Notes, but existential threats loom large
    Article
    TikTok launches Notes, but existential threats loom large
    Sephora and L’Oréal strong results suggest Ulta may have overstated beauty industry challenges
    Article
    Sephora and L’Oréal strong results suggest Ulta may have overstated beauty industry challenges
    Spotify comes out strong in Q1 but is still fishing for the next thing
    Article
    Spotify comes out strong in Q1 but is still fishing for the next thing
    TikTok ban signed by President Biden, giving ByteDance 9 months to sell
    Article
    TikTok ban signed by President Biden, giving ByteDance 9 months to sell
    Google delays deprecation of third-party cookies once again
    Article
    Google delays deprecation of third-party cookies once again
    Hyundai hits brakes on X ads amid brand safety concerns—even as auto industry embraces digital advertising
    Article
    Hyundai hits brakes on X ads amid brand safety concerns—even as auto industry embraces digital ...
    Maximizing the Impact of B2B Event Marketing
    Report
    Maximizing the Impact of B2B Event Marketing
    Threads will open up to advertising in the second half of 2024
    Article
    Threads will open up to advertising in the second half of 2024
    TikTok outperforms YouTube Shorts and Reels viewership
    Article
    TikTok outperforms YouTube Shorts and Reels viewership
    Amazon’s grocery revamp continues with new Prime subscription offering
    Article
    Amazon’s grocery revamp continues with new Prime subscription offering

    Latest Forecasts

    Total Media Ad Spending, UK
    Forecasts
    Total Media Ad Spending, UK
    Desktop/Laptop Ad Spending, UK
    Forecasts
    Desktop/Laptop Ad Spending, UK
    UK Nonmobile Ad Spending
    Forecasts
    UK Nonmobile Ad Spending
    UK Amazon
    Forecasts
    UK Amazon
    Digital Ad Spending, UK
    Forecasts
    Digital Ad Spending, UK
    Out-of-Home Ad Spending, UK
    Forecasts
    Out-of-Home Ad Spending, UK
    Retail Media Ad Spending, by Country
    Forecasts
    Retail Media Ad Spending, by Country
    Display Ad Spending, UK
    Forecasts
    Display Ad Spending, UK
    Video Ad Spending, UK
    Forecasts
    Video Ad Spending, UK
    Retail Media Ad Spending, China
    Forecasts
    Retail Media Ad Spending, China
    Ecommerce Channel Ad Spending, China
    Forecasts
    Ecommerce Channel Ad Spending, China
    Traditional Media Ad Spending
    Forecasts
    Traditional Media Ad Spending
    Total Media Ad Spending, China
    Forecasts
    Total Media Ad Spending, China
    Digital Ad Spending, China
    Forecasts
    Digital Ad Spending, China
    Display Ad Spending, China
    Forecasts
    Display Ad Spending, China

    "Behind the Numbers" Podcast

    The Weekly Listen: The TikTok ban gets signed into law, is AI ready to change search, and social commerce's ceiling
    Audio
    The Weekly Listen: The TikTok ban gets signed into law, is AI ready to change search, and social ...
    The Daily: How Netflix surprised folks, how much advertising will move the needle, and what its "Next Act" will be
    Audio
    The Daily: How Netflix surprised folks, how much advertising will move the needle, and what its ...
    Reimagining Retail: The Unofficial Most Interesting Retailers List (April)
    Audio
    Reimagining Retail: The Unofficial Most Interesting Retailers List (April)
    The Daily: GenAI's economic impact, part 2—the effect on jobs, Apple's GenAI strategy and AI's measurement problem
    Audio
    The Daily: GenAI's economic impact, part 2—the effect on jobs, Apple's GenAI strategy and AI's ...
    The Daily: GenAI's economic impact, part 1—the economy, Amazon's AI investments and ChatGPT in the physical world
    Audio
    The Daily: GenAI's economic impact, part 1—the economy, Amazon's AI investments and ChatGPT in the ...
    The Weekly Listen: What replaces "Just Walk Out" as the future of retail, the Atlantic's come back, and igniting TV shopping
    Audio
    The Weekly Listen: What replaces "Just Walk Out" as the future of retail, the Atlantic's come back, ...
    The Daily: How to make your brand the right amount of safe, vertical video ads for TV, and Hulu content on Disney+
    Audio
    The Daily: How to make your brand the right amount of safe, vertical video ads for TV, and Hulu ...
    Reimagining Retail: How to reduce friction at the point of sale and predictions for the future of retail payments
    Audio
    Reimagining Retail: How to reduce friction at the point of sale and predictions for the future of ...
    The Daily: GenAI and healthcare, part 1—How consumers are using GenAI to look up health information and how physicians feel
    Audio
    The Daily: GenAI and healthcare, part 1—How consumers are using GenAI to look up health information ...
    The Daily: GenAI and healthcare, part 2—How physicians are using GenAI for patient care and a 'DIY health clinic-in-a-box'
    Audio
    The Daily: GenAI and healthcare, part 2—How physicians are using GenAI for patient care and a 'DIY ...
    The Weekly Listen: Caitlin Clark's effect on March Madness, a women's sports revolution, and who will rule the new pay TV world?
    Audio
    The Weekly Listen: Caitlin Clark's effect on March Madness, a women's sports revolution, and who ...
    The Daily: How marketers are using GenAI, where we pay most attention to social media ads, and Chase's retail media network
    Audio
    The Daily: How marketers are using GenAI, where we pay most attention to social media ads, and ...
    Reimagining Retail: The beauty path to purchase and how social media trends have influenced beauty products and marketing
    Audio
    Reimagining Retail: The beauty path to purchase and how social media trends have influenced beauty ...
    The Banking & Payments Show: The Crypto Renaissance
    Audio
    The Banking & Payments Show: The Crypto Renaissance
    The Daily: How Hispanic Americans use media differently, who uses social media the most, and how kids use the internet
    Audio
    The Daily: How Hispanic Americans use media differently, who uses social media the most, and how ...