In fact, it's already happening. Research firm eMarketer says mobile wallets are "especially popular for smaller-ticket purchases" and cited a recent study showing that 84 percent of consumers are "open to using their smartphones to pay for small and medium purchases like a latte at Starbucks or a new set of sheets. It'll take a little more time for consumers to feel comfortable purchasing larger ticket items -- for example, a luxury good or furniture -- with a smartphone. One thing at a time."
Editor's note: Traction Watch is a new column focused obsessively on growth, and is a companion to the DEMO Traction conference series, which brings together high-growth startups with high-potential customers. The next DEMO Traction will take place in Boston on September 16, 2015. Growth companies can apply to present, or those similarly obsessed can register here to attend.
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