Enabling an Economy of Digital Trust with Mobile Payments

Enabling an Economy of Digital Trust with Mobile PaymentsPublication Type:

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The number of mobile payment users is projected to increase from 50.8 million to 76.0 million, or 24.3% to 33.1% of total smartphone users, between 2017 and 2020. In addition, mobile payment transaction value is expected to more than double in 2017, hitting approximately $62.49 billion.

Perhaps not surprisingly, the millennial generation has been the most enthusiastic about adopting the technology. eMarketer estimates that more than a third of millennial smartphone owners will choose mobile payments this year – accounting for more than half of total mobile payment users in the U.S. In addition, a recent survey commissioned by VocaLink found that more than a third of Dutch millennials (36%) and a quarter of UK millennials (25%) are now making mobile payments in-store, online and in-app.

Gen Xers and baby boomer shoppers are also expected to increase their use of mobile payments, with the number of active users projected to jump from 50.8 million to 76.0 million, or 24.3% to 33.1% of total smartphone owners, between 2017 and 2020. Moreover, a recent survey commissioned by the Mercator Advisory Group found that 53% of polled smartphone owners paid by mobile phone at checkout within the past year.

evertheless, most mobile wallets do not yet offer a compelling enough reason for the majority of consumers outside the millennial demographic to leave their credit and loyalty cards at home. Indeed, shoppers want a simplified mobile commerce experience that stores eReceipts, loyalty memberships, coupons and promo codes – while automatically applying relevant discounts and split purchase options to their purchase at checkout. Put simply, mobile wallets must be part of a new retail future in which an outdated brick-and-mortar paradigm is replaced by a convenient, seamless and interactive shopping experience.


Rambus offers mobile payments software to load and manage payment cards on NFC smartphones. This includes host card emulation, tokenization and OEM Pay support.

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