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Proximity Payments Transaction Value, 2019 & 2023 [CHART]

Chart: Proximity Payments Transaction Value, 2019 & 2023

Apple Pay’s dominance, as well as increasing retailer adoption of proximity mobile payment technology, is driving transaction volume growth in the US, according to eMarketer’s latest forecast.

eMarketer estimates US proximity mobile payment transactions will total $98.88 billion in 2019, growing 31.8% to $130.36 billion next year.

By 2021, the total transaction value will reach $161.41 billion.

Much of this growth is due to Apple Pay, which currently captures the largest share of the proximity mobile payment market in the US.

They estimate there will be 30.3 million Apple Pay users in 2019, which makes up 47.3% of US proximity mobile payment users and 13.7% of US smartphone users. Read the rest at eMarketer.