The Green Sheet Online Edition
August 8, 2011 • 11:08:01
Global stats on mobile payments
#dcf_The global market for mobile payments continues to expand. Whether the mobile application involves near field communication (NFC) technology that enables proximity payments at the POS or allows consumers to transact via the mobile web, mobile payments are increasing in popularity and availability.
Looking ahead
- The number of mobile payment users worldwide will surpass 141.1 million in 2011, marking a 38.2 percent increase from 2010.
- Global mobile payment volume is forecasted to reach $86.1 billion in 2011, up 75.9 percent from the 2010 total of $48.9 billion.
(Gartner)
- Twenty countries are expected to launch NFC services in the next 18 months, resulting in transactions approaching $50 billion worldwide by 2014.
- The top three regions for mobile payments (the Far East and China, Western Europe and North America) will represent 75 percent of global market gross transaction value by 2015.
(Juniper)
- In 2011, 41 percent of all mobile transactions will have been initiated in the Europe-Middle East-Africa region, followed by 35 percent in North America, 22 percent in the Asia-Pacific region and 1 percent in Latin America.
Breaking it down
- From 2009 to 2010, mobile phones as payment devices gained familiarity as more users wanted to: initiate money transfers to friends and family members (8 percent in 2009, 14 percent in 2010); receive text alerts whenever credit or debit cards are used (from 19 percent to 23 percent); and receive text alerts whenever potential fraud is detected (40 percent to 44 percent).
- In December 2010, 9.8 million Japanese mobile subscribers (almost 10 percent of the country's total subscribers) used mobile wallets to make payments, with the following user totals broken down by sector: retail/convenience stores, 7.6 million; vending machines, 3.2 million; public transportation, 2.7 million; grocery stores, 2.6 million; and restaurants, 1.5 million.
- In many developing nations, the majority of mobile web users are mobile-only, with per capita usage highest in Egypt (70 percent) and India (59 percent).
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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