The shift away from physical cash, credit cards, and debit cards is increasing as smartphone technology becomes more advanced and developed. Of those 232 million smartphones, 16.5 percent were used to make a contactless payment that year. For example, there were 232 million smartphones in use out in the United States in 2016. The percentage of eWallet usage on eCommerce platforms is 36 percent, and that percentage is rising every year. From both a consumer standpoint and a business perspective, mobile payment systems present many benefits.Īccording to a WorldPay study, the use of mobile wallets have become more popular over the years. Not to mention, they improve the customer experience. For example, you can accept or make payments wherever you are. That’s because they present many benefits. Merchants from every size and industry are embracing mobile payments.
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