NEW YORK—The digital wallet woes continue.
Despite all the buzz and excitement, mobile payment in stores still hasn't gained much steam in the U.S., according to a new report.
Mobile transactions barely accounted for $1 out of every $100 spent in-stores last year, Yahoo Finance reported.
And analysts don't expect mobile payment usage to rise anytime soon: the percentage is expected to reach just 3.4% by 2022, Yahoo Finance said.
“This year, 25.3% of smartphone users in the U.S. are expected to pay for physical purchases by phone, compared with an estimated 77.5% in China,” Yahoo Finance noted.