“Mobile payments are no longer just a trendy way to make a payment. They are quickly becoming the major force in the transaction industry.
According to a report from Business Insider, mobile payment volume in the United States is projected to increase at a five-year compound annual growth rate of 172%. By 2019, mobile payments will make up nearly 15% of the total payment volume in the United States, accounting for $818 billion in transactions.
Apple Pay and its early success is a significant part of this growth. But another factor is the use of mobile payments by the underbanked.”
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