To find information on the mobile payment options that are available in the United States and the United Kingdom i.e. payment options that involve the use of an app or mobile browser. Examples include Apple Pay and Samsung Pay.
According to eMarketer, the mobile payment industry in the United States experienced a 41% growth from $69.8 billion in 2018 to $98.8 billion in 2019.
This growth was significant because the industry was valued at around $12.8 billion in 2012.
One of the factors behind this growth is the fact that "mobile payments are increasingly being used by U.S. shoppers as customers become more comfortable with the technology."
It is predicted that by 2026, digital natives i.e. consumers that use digital payment methods like mobile payment will be 59% of the American consumers. Out of this figure, 46% will be Millennials and Gen Z, representing the largest purchasing power.
In the United States, the top mobile payment brands include Apple Pay, Google Pay, Samsung Pay, Chase Pay, and Masterpass. However, retailers such as Walmart and Target also have their own mobile payment offerings.
It is worth noting that Starbucks "remains the most popular mobile payment app as it keeps a lead over Apple Pay, Google Pay and Samsung Pay."