Frequently offered by mobile network operators, mobile money payment services enable customers to send, receive, and store money using their mobile device. As of 2017, a third of internet users worldwide has used a mobile payment service in the last month, with the highest usage rates occurring in China and India. Europe was ranked last with a 22 percent mobile payment usage rate. Countries with the highest share of internet users preferring mobile payments include China, Mongolia, and Brazil. Due to this above-average use of mobile payments in China, it is to be expected that the biggest online payment platforms worldwide are Chinese: WeChat Pay and Alipay with 600 million and 400 million users respectively. Other leading players are PayPal, Apple Pay and Samsung Pay. Despite these impressive user base figures, mobile payments still lag behind other digital payment methods in terms of overall online shopper preference.
An increasing number of merchants worldwide support and plan to support a variety of mobile payment options, the most common one being mobile apps for online shopping, mobile payments at POS, and special mobile payment options such as mobile wallets. Point-of-sale mobile transactions are becoming especially popular – in 2017, there were over 720 million proximity mobile payment users worldwide with forecasts projecting over 1.1 billion users in 2021. As of 2018, the most popular mobile payment methods accepted by online merchants worldwide were credit & debit cards, as well as PayPal. In 2018, 29 percent of online merchants accepted mobile wallets 881201, up from 24 percent in 2015. The most popular mobile wallets accepted by online merchants were PayPal, Apple Pay and Visa Checkout.