Global Mobile Payment Methods: Second Half 2016
Future growth of mobile payments reported in yStats.com publication
Although mobile payments make up just a one digit share of total consumer card payments, that share is expected to double by 2021, per a forecast cited in the new yStats.com publication. Mobile payments are finding greater acceptance in the developing economies of Latin America, Asia and Africa than in the mature markets of Western Europe and North America. Over half of consumers in Latin America with a bank relationship indicated an interest in making purchases with their mobile device. Shoppers in several European nations indicated that they were aware of the ability to make mobile payments but were hesitant to do so.
One of the deterring factors for shoppers is the security of mobile payments. Even consumers in the advanced market of South Korea reported a concern with security of their personal information when making a mobile payment. However, research cited in the yStats.com report suggests that consumers worldwide are beginning to warm to the idea of mobile payments
Airtel Money, Alipay Ltd., Amazon.inc, Android Inc., Apple Inc., Axis Bank Ltd., BBVA Walle, Bic Camera Inc., BillSAFE GmbH, Braspag Ltda., Car2go, Chase Pay, Cielo SA, Deutsche Telekom Inc., Family Mart Co., FeliCa Networks Inc., Flipkart, FreeCharge Ltd., Google Inc., Google Wallet, HDFC Bank Ltd., ICICI Bank Ltd., iDeal, iPag, Klarna AB, Lawson Inc., MasterCard Inc., maxiPago SA, McDonald’s Corp., Mercedes Corp., Mi-Pay Inc., MobilePay Ltd., Moip Pagamentos, Mundipagg, MyWallet, Oxigen Wallet, PagSeguro Ltda., Paydirekt GmbH, Paypal Inc., Paytm Mobile Solutions Ltd., Pingit, Popmoney, Populus Inc., PwC, Rakuten Edy Inc., Samsung Pay Inc., SBI Inc., Shopclues, Snapdeal, Square Cash, Suica, Swish Inc., Tenpay, Venmo Inc., Visa Inc., WeChat Ltd., Worldpay Ltd., Yodobashi Camera Co. Ltd.