Mobile payment users – additional information
Paying for a product or service using a mobile device is attractive to modern consumers because of its swiftness, simplicity and security.
Almost anything can be purchased via a mobile device. An online survey of over 7,500 mobile phone and smartphone users worldwide revealed the share of mobile users who have ever made a mobile payment. Results were then broken down by the types of good purchased. As of October 2014, 65 percent of mobile users in China had purchased physical goods such as clothing or a cup of coffee via mobile. In comparison, only 17 percent of mobile users in the U.S. had purchased a real-life service such as a public transport ticket, using a mobile.
The growth of the mobile payment industry can be measured according to the number of m-payment transactions made each year. In 2011, it was found that the number of mobile payments made worldwide amounted to 7 billion and rose to 11.1 billion a year later. Forecasters expect this number to rise year on year and reach an expected 47 billion transactions in 2015.
With trends revealing the industry is expanding, a survey in 2014 asked 500 global payment leaders which players were most likely to drive the growth in global mobile payments in the future. The results revealed that 77 percent of respondents believed that web-related companies such as Amazon were going to be a driving factor in the future of mobile payment growth. In addition, a further 69 percent of respondents stated that payment providers, for example wallet providers, would act as a driving factor for the industry’s growth.