Over $10 TRILLION --what?? You want more?

HAPPY NEW YEAR, DIGITAL WORLD AGENT!

2017 is poised to break all records in the cash-less world of commerce -- as well as in the unique and lucrative world of getting money back for merchants who are habitually overcharged for almost every facet of their basic business expenses!

Here are some forecasts:


The point of sale and retail industries have been shaken up in recent years with the rise of new payment technologies. From mobile wallets to on-demand apps, and consumer demand for a more personalized and interactive shopping experience, merchants big and small are facing a new wave of expectations from customers.

To stay ahead of the rapid changes in payment technology, merchants need to understand who is driving these changes. At one-fourth the U.S. population, millennials outnumber Baby Boomers and are three times the size of Generation X. Having grown up in the days of instant gratification (e.g. Netflix), the millennial generation wants everything to be ready when they are. This crosses over into their interactions with a retailer or restaurant, which they expect to be as easy as a swipe, click, or voice command.

As each year brings new technological advances, the POS and retail industries will continue to experience the impact of innovations in payment technology.



Mobile Wallets

Mobile wallets could be the single biggest transformation in payments processing if they take off in the way that many analysts expect.
Retailers are particularly excited about mobile payments because they can offer valuable insights about customer transactions that companies can use to enhance the shoppers' experience. The speed of mobile payments can also help increase foot traffic in stores, which in turn would generate more sales.
In 2014, Apple was the only major mobile wallet on the market. But in 2015, Google and Samsung launched their own mobile wallets, and Walmart, Chase, and other major players joined the market. BI Intelligence, Business Insider's premium research service, expects in-store mobile payment volume to grow from $75 billion in 2015 to $503 billion in 2020.

Swiping will disappear

More merchants will adopt systems to accept chip cards in 2017.

Outside of how much you will pay and how many rewards points you’ll earn, another fundamental aspect of the American credit card experience will continue to change in the new year: how you use cards. As more merchants adopt EMV-enabled payment terminals, you won’t have to ask what to do with your card at checkout much longer. However, there is one place where you can still expect to swipe for the foreseeable future: the gas station. Visa just gave gas stations permission to delay the chip rollout until 2020. If you’re concerned about fraud, that’s not exactly helpful; the pump is one of the easiest targets for skimming card numbers.

Source http://thepointsguy.com/2016/12/5-credit-card-predictions-for-2017/#ixzz4UiscA6Vj

*********

Nilson Report Dec 2016
Purchase Transactions on U.S. Consumer Payment Systems
Purchases of goods and services accounted for $9.550 trillion in 2015. This accounted for 77.75% of all personal consumption expenditures in the United States. 

Waiting on figures from '16 -- but anything over  $10 TRILLION is a fair number, don't you think??

*********