Increasing competition in the realm of point-of-sale installment plans will push existing buy now, pay later firms to diversify their offerings and target consumers beyond the existing core of Gen Z and millennial users.

Canadian mobile penetration and bank access have created a high-potential environment for both proximity and peer-to-peer mobile payments. But entrenched payment habits and monopolization have created a slow growth environment that will force providers to adapt.

The European point-of-sale firm acquired customer loyalty startup Fivestars to help it compete in the US against rivals PayPal and Square.

The etailer is working on a new point-of-sale solution for non-Amazon merchants with features like contactless enablement, customer analytics, and inventory management.

The QuickBooks Card Reader lets merchants accept contactless payments and chip cards—helping Intuit move further beyond accounting software and into in-store payments.

An iOS app update reportedly contains language about two forthcoming bank accounts from Square—which, if true, put it ahead of the competition.

The US has been relatively late in introducing contactless cards, which are credit or debit cards that include a near field communication (NFC) chip that can complete a transaction simply by tapping on a reader. But those cards are starting to arrive in the US now that most point-of-sale (POS) systems have the NFC capabilities to accept them.

Growth in proximity mobile payment use in the UK remains slow but steady. Against a strong headwind of contactless card use, mobile payments have struggled to take hold, though young consumer use offers a glimmer of hope.

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Of the 938.2 million proximity mobile payment users worldwide, over two-thirds reside in China and India. Consumer adoption is still in its early days for most markets, but there will be fast growth in retailer support and usage over the next few years.

Adoption of proximity mobile payments in the US continues to grow, but at an increasingly tepid pace. They’ve yet to unseat credit cards as the payment option of choice. Meanwhile, peer-to-peer (P2P) payment adoption is driven by platforms like Venmo and Zelle.