eMarketer cuts mobile payment predictions in half, says market stifled by ‘congestion’

The “explosion” of mobile payments is more like a distant rumbling.
Research firm eMarketer has cut its estimated growth for proximity mobile payments in half. The firm forecasted in October that mobile payments would reach $2.12 billion in 2013. Today it released new figures which predict that volume for this year will hit $1 billion.
Mobile payment transactions more than tripled from 2011 to 2012, but eMarketer scaled back its initial growth estimates after seeing delays and adoption issues with mobile wallet initiatives and a “congested landscape” of competing technologies.