The number of American consumers using their smartphone to make in-store mobile payments will reach 101.2 million in 2021 following a 29% increase in usage during 2020, according to an eMarketer forecast.
It also predicts that the number of new mobile wallet users will rise by around 6.5 million per year between 2021 and 2025, with more than half of all US smartphone users making proximity mobile payments by 2025.
“Apple Pay remains the dominant player with 43.9 million users in 2021. Between 2020 and 2025, it will add 14.4 million users, far more than its competitors. That will increase its lead over number two, Starbucks,” the forecast predicts.
“In third place, Google Pay will add 10.2 million users by the end of the forecast period. Samsung Pay’s growth is stagnant, adding just two million users between 2020 and 2025.”
According to eMarketer, the average annual spend per mobile wallet user will reach US$2,439 in 2021 — a year-on-year increase of 23.6% — and exceed US$3,000 per year by 2023.
“The pandemic accelerated the adoption of mobile payment platforms (used at point of sale), as Americans sought out retailers offering contactless services,” eMarketer says.
“As a result, user and transaction value growth have accelerated.”
“As retailers switched to contactless systems, customers could increase how often they paid with wallet apps and form habits around the technology,” analyst Jaime Toplin adds.
“These shifts grew spend per user, since consumers could more easily incorporate mobile wallets into their daily routines and became more comfortable buying a wider variety of items with the technology.”