With an estimated 77% of American smartphone owners using mobile wallets in 2018, digital payment demands are high. Merchants need flexible, robust, end-to-end operations that accommodate changing consumer behaviors.
A February 2018 study from Pew Research found that 77 percent of Americans now own a smartphone. That’s more than double the amount of smartphones than when Pew first began tracking these numbers in 2011 (it was only 35 percent then). And as more smartphones make their way into the pockets of Americans, it’s more likely that they’ll turn to that device to make payments in their everyday life.
New technology has expanded the ways we pay. Where cash was once king, credit and debit cards now reign supreme. Even that upseating is in the process of dynamic change. As consumer lifestyle preferences shift and convenience is valued over all, many consumers are looking for even easier ways to pay online.