While many experts have been quick to say that mobile commerce is going to play a major role in the future of payment solutions, it will ultimately be consumers that prove them right or wrong. If recent reports are to be believed, the future is closer than you think.

According to a survey conducted by PayPal, 29 percent of customers would rather pay with their smartphones than with cash or a credit card. That goes along with another finding that nearly one third of Americans, if told they could only carry a single item with them when leaving the house, would choose a smartphone and 86 percent wished they did not need to carry a wallet at all.

This shows that consumers are ready for a mainstream mobile commerce shopping experience, but it is businesses that are falling behind.This is highlighted by the fact that 68 percent of U.S. respondents said they have found themselves in a situation where they would have made a purchase if given a mobile commerce option but needed to pass because they did not have enough cash.

Research firm Gartner estimates that by the end of the year, mobile commerce transactions will likely surpass $235.4 billion and reach as high as $721 billion by 2017.

It seems clear that there is a growing demand by consumers for payment options that involve their smartphones and tablets, so it is up to businesses to cater to that or risk losing potential revenue. A payment solution provider can help any organization make that possible.