According to Online Media Daily, this year the mobile payment transactions will exceed $171.5 billion which is a 62% increase from last year. As of Feb. 2012, 74% of smartphone users have used their mobiles for location related services. 50% of people who shop on smartphone use a GPS/mapping app to locate the address of a retail store.
By this year end, approximately 116 million people in America will use a smartphone at least once in a month, an actual increase from last year's 93.1 million. It is a fact that 47% of smartphone owners will rather rely on their smartphones to find more information about a product. 36% read product reviews on their mobile devices about retail websites.