Javelin estimates that the mobile payment volume for in-store purchases in the U.S. will grow more than tenfold, from $4 billion in 2014 to $54 billion in 2019. However, its mCommerce transactions, those made online either via mobile web browsers or apps, that dominate consumer mobile payments in the U.S. today, representing 95 percent of the total mobile payment volume. Although not growing as rapidly as mobile contactless payments, mCommerce is forecasted to more than double by 2019, when it will then make up three-quarters of the total U.S. mobile payment volume.
Mobile commerce is growing at a torrid pace as consumers in the U.S. and worldwide continue to spend more from their mobile devices, both online and in-store. When it comes to measuring the mobile payment volume it is important to differentiate in-store mobile contactless payments from online mCommerce, just as we track Customer Present and Customer Not Present payments separately. Javelin Strategy and Research estimates that the total U.S. consumer mobile payment volume reached $79.8 billion in 2014 and they forecast this to increase to $217.4 billion by 2019. However, online and multi-channel merchants should be taking a closer look to see how this breaks down for in-store versus mCommerce mobile payments, and also mobile browser versus app payments, to gain a more complete picture in terms of where to invest and allocate resources.