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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’s how providers are using wallet integration and new features to make proximity payments stickier.

This launch could revolutionize PayPal’s in-store ambitions—and provide real competition for Apple Pay

The rule would require larger payment apps to be regulated like banks. Ending this rule would be a win for Apple Pay and Google Wallet

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’s NFC tech, opening the floodgates for more to deploy the tech.

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.

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

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

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’s digital user experience and app-based shopping options are a natural fit for digital natives’ lifestyles.

The news: A federal judge has delivered a sharp rebuke to Apple, ordering the company to loosen its control over the App Store and cease commissions on certain app sales, marking a major shift in the Epic Games antitrust case and weakening Apple’s dominance over mobile payments.

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