Dive Summary:

• According to a report released by Berg Insight, U.S. consumers purchased nearly $500 million in retail goods and services in 2012 via mobile wallet Smartphone apps.
• The vast majority of mobile wallet transactions took place within Starbucks brick-and-mortar locations using the company’s own Smartphone app which lets its customers purchase goods while in-store via their mobile device.
• The mobile wallet market is expected to climb at a rapid pace as it is utilized more frequently by American consumers to purchase a wide-range of goods and services. Berg projects the market will grow to $35 billion in 2017.

From the article:

In Europe, the mobile wallet is buried even further in laundry pile. Berg calculated that 29 European countries generated only €100 million (U.S. $130 million) in wallet transactions in 2012. Berg, however, expects Europe to embrace mobile payments more readily than Americans, projecting the wallet market to grow to €45 billion in 2017.