A mobile banking study by financial services consultancy Mercatus shows that, based on current adoption trends, 15 percent of adult U.S. consumers under 30 will be using mobile payments within five years—and growing close to half of those between18-35 within a decade.

Mercatus bases that bullish estimate also on the fact that U.S. banks have raised more than $300 million in investments for mobile payments, according to Bob Hedges, Mercatus’ managing partner.  “These investments have been made based on the belief that mobile payments represent a compelling value proposition to consumers. We now have empirical evidence that consumer demand and interest in mobile payments is real and worth pursuing,” says Hedges, in a news release.

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