3 Mobile Payments Trends To Watch For In 2016

By Michael English, Vice President of Product Development, Heartland Payment Systems

The number of consumers using their smartphones to make purchases at the point of sale will continue to rise, and 2016 is predicted to be a year of impressive growth for the technology. According to the latest mobile payments forecast from eMarketer, the total value of mobile payment transactions in the U.S. is likely to increase 210 percent in 2016, from $8.7 billion to $27.1 billion. Total mobile payments sales are anticipated to rise faster than the average spending per user in 2016 because of the growth in the number of overall users of the technology.

With greater use comes better loyalty programs, more order-ahead apps and sustainable security — three mobile payments trends to look for in the coming year.

1. More Deals And Discounts

Retailers know loyalty programs are an excellent way to build their brands and encourage customer engagement. In 2016, retailers are expected to take loyalty programs to the next level by using predictive analytics to further customize offers by looking at customers’ locations, purchase histories, and demographics. Some of the best coupons, deals, discounts, and loyalty-point programs will appear in mobile wallets as marketers embrace this new and convenient way to engage customers.

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