As Benedict Evans from Andreessen Horowitz stated: “Mobile is eating the world”. Because of the increasing penetration of smartphones and the ubiquity of internet connection, it seems like we can almost do anything with our phone.

mCommerce is especially booming, it now represents 30% of all eCommerce traffic in the U.S. In fact, all mobile-based payments in the U.S. are expected to increase from $50 billion to $142 billion in 2019. Of course, mobile will enable in-store payment, but above all it will fuel online and in-app payments.

There are two ways to envision mobile payment. On one hand, there are the likes of Apple Pay and Google wallet that are developing a multi-brand solution to enable customers to use the same system at several retailers. This solution unifies retail and online payments and is definitely consumer centric. On the other hand, there are companies that developed their proprietary tool like Target or Starbucks. They consider mobile payment as part of the whole shopping experience (including the loyalty program, couponing and browsing). Who will win? It is hard to say yet, but we can definitely imagine a world where both systems co-exist.

If you want to know more, see PRIME presentation below about emerging trends in the IoT sector