Mobile Payments

Mobile wallet use in Italy is growing even as its government faces cash mess

02/16/202302/15/2023 Jennifer Goula

Italian consumers are increasingly turning to their smartphones to pay for products and services. According to the results of the PYMNTS Q3 2022 ConnectedEconomy Index “How the World Does Digital” study, mobile wallet use is on the rise in Italy even as that country’s government struggles with cash chaos. The research tracked digital engagement across 11 different countries, including payments via smartphone. What the mobile wallet study found was that there was a rise in usage during routine activities. This suggests that the growth isn’t just based on specific circumstances…

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…

Digital wallets could prove very expensive for conventional banks

01/09/202301/07/2023 Jorge Gonzalez

As these payment apps and services grow in number and use, banks could lose out on billions in transactions. Consumers worldwide are increasingly using digital wallets to complete transactions both online and while in-store shopping, which means that banks stand to lose out on billions in transactions that would traditionally have belonged to them. What has yet to be seen is if those banks will pivot to keep up with their primary online competition. As digital wallets such as PayPal, Apple, and others are adopted at a rapid rate in…

Mobile wallet use now higher in the Netherlands than Spain

01/05/202301/04/2023 Jennifer Goula

Though Spain had been holding the lead spot in Europe, 2022’s third quarter lost its crown. New data released by PYMNTS has revealed that mobile wallet use in Spain has now fallen behind the Netherlands. A collaboration between PYMNTS and Stripe showed that the Netherlands saw notable growth. A report by Connected Economy called “how the World Does Digital: Different Paths to Digital Transformation”, a collaboration between PYMNTS and Stripe showed that 13.6 percent of consumers in the Netherlands completed their in-store purchases using a mobile wallet in the third…

Romania has highest mobile payments use of all Central and Eastern European Countries

12/12/202212/09/2022 Jorge Gonzalez

A recent Visa regional study found that Romanians have the greatest preference to use their phones to pay. Visa recently conducted a regional study on preferred transaction methods and found that Romania had the highest preference for using mobile payments among all eight Central and Eastern European (CEE) countries. The adoption rate for the country was the highest, with about 7 of 10 people using this method. The regional study showed that among CEE countries, Romania had the highest mobile payments adoption rate. Seven in 10 people in the country…