Mobile payments awareness is rising in North America despite low adoption

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Consumers here still feel most transactions will be based on cash at least until 2020. An Accenture study showed mobile payments awareness has reached 56 percent of consumers in North America. This represents a 4 percent increase over the figures recorded a year ago. That said, those same consumers don’t appear to be adopting mobile wallets. Regular mobile payments usage has stayed at 19 percent among North American consumers. This, despite the fact that a much higher number actually know the transaction method exists. Among the respondents in the mobile…

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Mobile payments may breach the $1 billion mark in 2013

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eMarketer has released its predictions for the United States and they are slower than previously expected. Even though the growth of mobile payments that was expected earlier this year is not panning out to be true, the slow increases that are still being made still might allow transactions to top $1 billion in the United States this year if the latest eMarketer data is correct. Though this may seem as though it is an important milestone this year, it is expected to be far greater in 2017. The eMarketer predictions…

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Mobile payments are almost ready for in-store in Europe and North America

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A new report from the Berg Insight analyst firm has suggested that the transactions may be ready to get started. According to the latest report from Berg Insight, by 2017, the North America and the EU27+2 region (the twenty seven members of the European Union as well as Norway and Switzerland) will achieve a combined total of €78 billion. This will have been a tremendous increase from having been only €0.6 billion last year. In Europe, the baseline in 2012 was considered to be somewhat meager, having reached only €0.1…

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Mobile payments service to stem from PayPal and Magento deal

Paypal Mobile Payments

The new service will allow consumers to be able to pay using the app while inside stores. Magento has belonged to eBay since 2011, providing it with an e-commerce platform that merchants were able to use for the creation of customized online shops, but this has been kept separate from PayPal, another acquisition, until the latest mobile payments service was developed. This program will bring eBay’s PayPal and Magento together, changing the current environment. eBay has just announced its most recent partnership which will bring Magento’s service together with the…

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Mobile payments are struggling in Sweden

Mobile Payments

Estimates have shown that smartphone penetration in Western Europe has reached around 25 percent. The latest estimates from eMarketer have been released and they are showing that although 25 percent of Western European consumers have smartphones, mobile payments are still lagging behind in Sweden where penetration is higher. SBAB Bank data from August and September showed that penetration in Sweden is at 67 percent. However, even though Swedish consumers are more than twice as likely to have smartphones than their average European counterparts, mobile payments still aren’t picking up very…

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Mobile payments from PayPal tested in Australian shops

Paypal mobile payments

The service allows transactions to occur in-store through a mobile device such as a smartphone. Small businesses in Australia are currently taking part in early trials of the new in-store mobile payments system being offered by PayPal in order to provide feedback regarding its features, function, and value. This new system offered by the eBay owned company first announced the launch of the service last week. Consumers are now able to use a mobile payments app from PayPal to check into a shop that they have entered. This also allows…

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Mobile payments are the largest change to retail in a half century

Mobile Payments

Industry experts are calling smartphones the biggest industry revolution since the credit card. When examining the mobile payments world, it is now being said that the revolution it has brought along with it for retail is comparable to that which was seen in 1958 when the first Visa was introduced by Bank of America in the form of the BankAmericard. Smartphones now offer a widespread transaction method that consumers can use on a mainstream basis. Just as credit cards are now vital to today retail marketplace, regardless of the status…

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