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PayPal is the most popular mobile payment app that US adults typically use, with over twice as many users as the next most popular choice, Venmo, according to November 2024 data from YouGov.

Gen Z is the first mobile payments-native generation. By 2028, 67.8% of US adults will be mobile wallet users, per our forecast. Gen Zers are already way ahead: 85.1% made an in-store or online payment using their phone in 2023, according to Federal Reserve Bank of Atlanta.

Proximity mobile payments are on a growth tear, driven by strong spend per user. Here鈥檚 how providers are using wallet integration and new features to make proximity payments stickier.

A rewards integration coming later this year could make Synchrony a more attractive co-brand partner

The Vipps wallet in Norway is the first to use Apple鈥檚 NFC tech, opening the floodgates for more to deploy the tech.

They can help Google steal some market share from Apple as it opens up its NFC tech.

The capability should help boost Pix鈥檚 in-store volume, serving as a roadmap for the US鈥檚 FedNow to boost retail adoption

Sensei raises $16 million in seed round: The retail tech provider has its sights set on bringing automated, contactless stores to Europe.

It鈥檚 a large volume opportunity for the BNPL player and helps Klarna compete with. It can also help keep users loyal to Apple as its NFC tech opens up

PayPal has struggled to crack proximity mobile payment. Unlike Apple Pay, which was designed as a proximity mobile payment method, PayPal was designed for digital payments; its in-store payment experience is not as convenient as its pass-through rivals. In the UK, the only in-store PayPal payment option is via scannable QR codes, which can be generated by the customer or the merchant.

Proximity mobile payment transaction value will increase by 21.4% this year and by double digits through the end of our forecast in 2028.

The BNPL provider expanded its merchant network and pushed in-store. A potential Apple Pay deal could help raise its profile

Click here to view our full forecast for US proximity mobile payment users, by generation. Gen Zers are driving BNPL growth while evading a debt trap. Gen Z will remain a key driver of BNPL growth. BNPL鈥檚 digital user experience and app-based shopping options are a natural fit for digital natives鈥� lifestyles.

In 2025, consumers can expect broader payment method choices, the advent of multifunction payment instruments, broader access to near-field communication (NFC) mobile payment technology, and more targeted financial media network (FMN) advertising. Payment providers that participate in these changes will reap the rewards. Real-time 鈥減ay by bank鈥� payments land at online checkout.