Research Firm eMarketer Slashes 2013 Mobile Payments Estimate in Half

Research firm eMarketer said Thursday it was cutting its 2013 estimate for total mobile payments in the U.S. from the $2.12 billion it estimated in October 2012 to $1 billion. The firm said that adoption has been slower than anticipated and that competing offerings have hampered growth. Still, the $1 billion total would mark 93 percent growth over the $539 million in mobile payments eMarketer forecast for 2012.