Report reveals mobile payments reach $20billion and set to grow

Tablet shopping on the rise

A new report by Javelin Strategy and Research reveals that consumers spent more than $20.7 billion shopping using mobile devices, with around $5 billion of that spent using tablets, in the last year. Mobile shopping is continuing to grow at a rapid pace with the number of people owning tablet devices set to double in the next three years.

“With large-screen real estate and mobile capabilities, tablets are the ideal channel to transform PC-based online shoppers into mobile shoppers,” said Mary Monahan, Executive Vice President and Research Director, Mobile at Javelin. “Increasingly, mobile devices like tablets are being used as shopping tools but the mobile buying experience is not keeping pace with consumer activity.”

Javelin’s research revealed that on average consumers spend $10 more per purchase using a tablet compared to a mobile device. The Mobile Payments Hit $20 Billion in 2012 report is based on three online surveys of mobile phone owners and a survey of mobile device owners, and also includes case studies of mobile offerings from American Express and Amazon

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