Tag: mobile payment trends

Mobile payments in supermarkets shockingly most common from this generation

Sam Lambert
Mobile payments - Supermarket checkout

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…

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

Stephanie Beck
Mobile wallets - Apple and Google logos

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…

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

Stephanie Beck
Mobile wallet - Payments via smartphone

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…

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Mobile Tap to Pay trend picks up speed among US retailers

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…

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The consumer shopping experience is increasingly dependent on mobile payments

Sam Lambert
Consumer shopping experience - mobile payment

A new Buyer PaymentsInsights Survey by Mercator Advisory Group examined this trend. Mercator Advisory Group has released the outcomes of its recent Primary Data report, Buyer PaymentsInsights – Payment Behavior: Younger Shoppers Lead a Change, showing that mobile payments has become highly critical to the consumer shopping experience. The report’s conclusions are based on Mercator’s 2020 Buyer PaymentsInsights Survey. This online survey involved the participation of 3,000 adult consumers in the United States. It was conducted before the outbreak of the pandemic in the U.S., in February 2020. It examined…

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