Smartphone-based payment solutions have so far been slow to take off in the North American market, but that trend could be shifting. Nearly one in three (31%) of consumers already use mobile wallets such as Apple Pay, and 53% of consumers feel stores should accept smartphone payments. That figure rises to 67% for Millennials, who collectively account for $200 billion in purchasing power.
Along with a potential rise in smartphone-centric payments, mobile point-of-sale (mPOS) systems are on the rise. By 2021, 27.7 million mPOS systems are projected to be deployed, and 59% of apparel and fashion retailers are specifically requesting iPad POS systems, according to this infographic from ShopKeep.