mobile payment trends Archives

Mobile wallets are becoming popular among boomers for this reason

04/23/202404/22/2024 Jennifer Goula

Mobile wallets - Baby Boomers using mobile phones

This generation isn’t using phones as a payment method as much as others, but another use is growing When it comes to demographics using mobile wallets the most, the majority of people wouldn’t think that Baby Boomers would be in a top category. That said, when it comes to one specific behavior, they’re participating quite a bit. It’s true that this isn’t the top generation for using mobile payments Still, there are far more features available through mobile wallets than making payments by tapping a smartphone at a checkout counter.…

Mobile payments in supermarkets shockingly most common from this generation

11/16/202311/15/2023 Sam Lambert

Though it would be easy to assume Millennials would be the heaviest users, they’re surprisingly not. It’s easy to think of the most common users of digital commerce and transaction tools as being from the Millennial generation, but when it comes to grocery shopping, Generation X has taken the lead in using mobile payments. When shopping in supermarkets for the food they’ll prepare, Gen X often uses phones to pay. In the United States, over 9 percent of Gen Xers are using mobile payments and commerce to purchase their groceries…

Tech giants play a substantial role in mobile wallets innovation and competition

09/22/202309/21/2023 Stephanie Beck

Apple and Google were considerable players in establishing tap-to-pay regulations and technology. A new Consumer Financial Protection Bureau (CFPB) report has placed the spotlight on the way mobile wallets are impacted by the policies and practices of tech giants. This is particularly true when it comes to the way that smartphones and wearables are used to transact. For instance, Apple currently has a ban on bank and payment apps from being able to access the Apple iOS device tap-to-pay functionality, setting fees for mobile wallets through Apple Pay. On the…

Mobile wallet market to break $16.2 trillion by close of 2031

08/05/202208/04/2022 Stephanie Beck

The world is moving evermore cashless, and consumers are turning to their phones for payments. As a growing number of countries worldwide trend toward cashlessness, the mobile wallet market worldwide is seeing striking growth. Even before the pandemic, it was already taking off, but contactless trends sent its use skyward. In 2015, the mobile wallet market was valued at $675 billion. By 2018, it had already risen to 1602.4 billion, and the number has only continued to climb. Among the factors that have helped to drive the use of payments…

Mobile Tap to Pay trend picks up speed among US retailers

07/22/202207/21/2022 Stephanie Beck

Tap to Pay - Mobile Phone & POS Terminal

Shoppers have started to see the appeal of using their smartphones to pay for purchases in-store. Compared to many other countries worldwide, the US has been slow to adopt mobile payments, but Tap to Pay technology has started catching on among American shoppers. Adyen, one of the largest US payment services providers is now supporting this tech for retailers. Adyen has now officially launched support for Tap to Pay in its merchant networks and retailers. This has opened the door to allowing people using iPhone XS or newer, as well…