smartphone payment trends Archives

Consumers are increasingly aware of mobile payments, but aren’t using them

10/22/201510/21/2015 Julie Campbell

A new study from Accenture has shown that awareness isn’t necessarily the main barrier to adoption. Until now, the primary barrier to adoption of mobile payments has been considered to be a lack of awareness among the majority of the population, but according to the results of a recent study, people are starting to learn about this technology – they’re just choosing not to use it. In North America, awareness of smartphone payments has reached the majority of people. A report on the study by Accenture has shown that over…

Mobile payments demand is increasing in the Middle East

04/24/201304/22/2013 Jorge Gonzalez

That market is beginning to increase its desire to take part in transactions over smartphones. As companies in the Middle East have begun a broadening of the infrastructure for mobile payments, the demand for using this alternative form of transaction is also on the rise in that region. This trend has kept the area well in line with the evolution that commerce is taking on a global scale. The data suggesting that the Middle East is keen to take on mobile payments was issued by First Data. It has pointed…

Mobile payments will replace cash and credit cards, say consumers

12/17/201212/17/2012 Stephanie Beck

A survey has shown that people feel that cashless payments will soon dominate the marketplace. A recent survey performed by Harris Interactive has shown that over 60 percent of American adults believe that mobile payments will have replaced traditional plastic credit card and cash transactions in the not too distant future. Approximately 30 percent believe that this will occur within the next five years. The online poll was conducted with the participation of 2,383 adults in the United States. It ran from November 14 through November 19. Among the respondents,…

Mobile payments to reach $1 trillion by 2017

11/19/201211/17/2012 L. Green

The volume of money spent worldwide is expected to skyrocket over the next five years. According to a study performed by IDC Financial Insights, the mobile payments volume by 2017 will have reached over a trillion dollars, and this will be merely the tip of the iceberg as to the size it will achieve in the years that follow. The majority of the spending will be through mcommerce, according to IDC. The report based on the study also indicated that NFC mobile payments will eventually begin to gain popularity as…