Over 40 million US consumers, or 20 percent of all smartphone users, used at least one mobile proximity or mobile e-commerce wallet in 2013. Usage will increase to nearly 113 million, or 43 percent of all smartphone users, by 2017, according to a report from Parks Associates. The report also shows that previously, market watchers used the success or failure of NFC as a barometer for the potential of the mobile wallet market, but barcode-based apps, not NFC, dominate current in-person use. With the rise of barcode, cloud, and Bluetooth-based wallets, the mobile wallet market no longer depends so exclusively on one technology.
The study found that mobile apps and social media play an increasingly important role in holiday shopping, with almost 1 in 2 holiday CE shoppers using their smartphones as part of the shopping process. Over 38 percent of those planning to spend USD 1,000 or more were using mobile apps for holiday shopping.
Stand-alone mobile wallet services, such as P2P funds transfers and coupon/receipt storage, are expected to become incorporated into full-featured wallet apps. Additionally, proximity and e-commerce wallets will become less distinct as consumers will expect to access their payment credentials stored in their wallet apps whether they are shopping in-person or online.
From the article, "43% of smartphone owners to use m-wallet services by 2017."
