mobile payment apps Archives

PayPal gives its Venmo mobile payments app an overhaul

01/31/202401/30/2024 Stephanie Beck

The company’s stock has tumbled as much as 6.5 percent since last summer following product revamps. PayPal Holdings CEO Alex Chriss recently promised that the company would “shock the world” with changes coming up to products like its mobile payments. The announcement and the optimism it brought sent the stock price up by 5 percent for the days following. The upgrades include mobile payments app Venmo revamps as well as the opportunity to use the PayPal app to earn cash back. Furthermore, the checkout process for consumers has been streamlined,…

Consumers are using their mobile wallet more, but prefer plastic

02/03/202302/02/2023 John Montgallo

While shoppers may be increasingly using their phones to pay, their cards are still a preferred method. Consumers have been using mobile wallet transactions to an increasing extent, but even among those who have been using their phones to pay, many still prefer using a debit or credit card, according to the results of a recent JD Power report. The report was based on a survey of 3,588 retail bank customers across the United States. The mobile wallet survey was conducted between the first quarter of 2021 and the third…

Half of the world will be using mobile wallets in 2025, study

07/19/202107/15/2021 Jorge Gonzalez

Mobile wallets - person using mobile wallet

From 2020 through 2025, the transactions completed using these apps will break the $1 billion per year mark. A mobile wallets trend report was recently published, indicating that one in every two people in the world will be using this type of app by 2025. By the end of last year, 2.8 billion wallets were already being used by people around the world. Boku, the fintech behind the 2021 Mobile Wallets Report in a partnership with Juniper Research, estimated that the use of these smartphone-based payments will rise by almost…

Mobile banking services help young people save their money

05/16/201605/14/2016 Julie Campbell

A new Halifax Savings survey has shown that 18 to 24 year olds find it easier to save using digital tools. New research has revealed that four out of every five young adults find that online and mobile banking services are helping them to increase their balances and save their money in an effective way. The research also discovered that what is true for younger consumers is not the same for older ones. Among people between the ages of 18 and 24 years of age, 81 percent using their bank’s…

Mobile banking sees 13 percent usage jump in Q1

06/05/201506/04/2015 Sam Lambert

The South Korean market has greatly expanded its use of these apps and services during the span of three months. According to data that has been released by the central bank in South Korea, mobile banking in that market has undergone a 13 percent increase in terms of its daily usage over the span of the three months that made up the first quarter of this year. This insight underscores the strength of the growing trend toward mobile device use for financial transactions. During the period running from January through…