Mobile and cloud-based payments continue to face consumer reluctance, but they will outnumber desktop payments this year, according to research by U.K. mobile consulting company Juniper Research.
Juniper Research predicted an 88% increase in contactless payments in general to $4.7 trillion by 2019. Credit cards will still reign supreme even as payments move from computers to mobile, and as mobile is used in stores as well as online, according to the report.
Earlier research has also found that mobile payment acceptance by consumers will be slow but steady as they realize its convenience and come to believe it’s secure, according to reporting by Mobile Commerce Daily.
Although last year’s security breaches stemmed from issues at brick-and-mortar point-of-sales systems, consumers are hardly flocking to mobile and other contactless payment systems as an alternative. Still, researchers on this topic clearly believe that mobile payments will increasingly become more widely used and are a key way to drive sales both online and in stores.