Industry research indicates that mobile payments are likely to grow significantly over the next few years. Based on information observed from industry studies, this report examines several factors that could help foster broad acceptance of mobile payments in the U.S. These key drivers include growing smartphone ownership rates and greater consumer comfort with mobile technology for conducting financial activity; increased awareness of mobile payments and the value-added capabilities and convenience they offer; the potential for the mobile channel to provide access to financial services for underserved consumers; and collaborative industry efforts to develop adequate education and effective security tools to assure consumers that using the mobile channel is a safe way to pay.