I saw this on Forbes today.
Disruptive mobile technologies are shaking up traditional payment processes and mobile E-commerce is expected to exceed $1 trillion in worldwide volume by 2017, a new study says… more
This doesn’t surprise me. I went to a conference recently and many of the vendors accepted payments on their iPhone with a Square. It was extremely convenient and easy to use. Square works on Android as well.
I did some rough cocktail napkin calculations. If Square captures 10% market share in 2017, which is $100 billion, at 2.75% per swipe that’s about $2.75 billion. I could be way off but maybe not. Square is a major player in this space now and I think I’m grossly underestimating their impact in 2017. Just in case you were wondering Square is hiring by the way.