NEW YORK, Oct. 20, 2017 /PRNewswire/ –Â If ever there was a millennial moment it is now. Why? Because as a generation of young Americans roughly 17 to 35 years of age, the heart of the group is entering its prime earning and spending years. At 93 million strong, it is the most significant demographic cohort in the country, far outstripping the ranks of baby boomers and Generation X. For businesses looking to attract, retain, and engage their customers, what 20- and 30-somethings do matters today.
And one of the things millennials do best is use their smartphones to make mobile payments. Thanks in part that 80 percent of the group owns a cellphone, the dollar value of payments made by phone is expected to rise sharply in the coming years. In fact, Business Insider estimates in-store mobile payment volume to reach $503 billion by 2020.
Article source: http://markets.businessinsider.com/news/stocks/E-Complish-Looks-Toward-Millennials-When-It-Comes-to-Adopting-New-Technology-1005038558
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