There is big money at stake in small digital payments. The annual transaction value of online, mobile, and contactless payments will reach $4.7 trillion by 2019, up from just over $2.5 trillion this year, predicts Juniper Research, and nonbanks are taking a slice of the payments pie. Every second, PayPal transacts $7,001 in payments. The dollar amount loaded onto the Starbucks mobile payment app as well as Starbucks' prepaid gift cards is more than the combined dollar amount of deposits in the smallest 1,000 U.S. banks, according to Richard Crone of Crone Consulting LLC.
展开▼
