[Payments Snapshot] Here's why mobile commerce is becoming increasingly valuable...

Fully understand the payments ecosystem with this chart.

Report Snapshot: The Payments Ecosystem Mobile commerce is becoming increasingly valuable to merchants and the payments providers that serve them… Eighty-one percent of American adults now own a smartphone, according to comScore, and together with tablets they're driving a skyrocketing proportion of total e-commerce. From 2012 to 2016, mobile purchasing in apps and browsers rose 230%, from $23 billion to $76 billion. In addition to rising mobile device adoption, consumers are increasingly turning to mobile shopping due to the convenience of making purchases on the go. View full chart data→ * This chart was taken from BI Intelligence's Payments Ecosystem Report which is available to Ultimate Payments Research Bundle subscribers. You can get access to this report and other timely updates when you sign up today. Here are some other key points from the Payments Ecosystem Report on mobile commerce: Mobile devices are the major force behind e-commerce's rise. Mobile commerce is expected to account for $357 billion in retail purchases by 2021, accounting for 45% of total e-commerce sales. However, to reach its potential, mobile commerce will need to tackle its largest issue: low conversion rates. Mobile devices have low conversion rates for many reasons, most notably due to the hassle of inputting card information on small screens. Subscribe risk-free to view The Payments Ecosystem Report Here's a summary of what you'll receive when you subscribe to the Ultimate Payments Research Bundle today: 42 immediately accessible research reports and data-sets, including The Payments Ecosystem Report. At least 15 new Payments reports over the next 12-months. Insightful newsletters and charts about everything important taking place within the payments space. 14-day money back guarantee period so you can access all of the above risk-free! Other research highlights you don't want to miss Renegotiating terms with United could reverse JPMorgan Chase's growth JPMorgan Chase and United Continental... Access Full Chart → Venmo faces stiff competition from Square Cash and Zelle As the peer-to-peer (P2P) payments... Access Full Chart → Subscribe to BI Intelligence's Ultimate Payments Research Bundle today to view The Payments Ecosystem Report in full. You'll also receive daily briefings in six key coverage areas and access to a members-only Research Center filled with insightful reports. Sign up risk-free Today! Copyright © 2017 Business Insider, Inc. All rights reserved.

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