mobile payments trends Archives

Tech giants play substantial role in mobile payments

10/02/202309/28/2023 Jorge Gonzalez

Mobile payments - POS Terminal paying with phone

A new CFPB report underscores the influence of such players as Apple and Google. The Consumer Financial Protection Bureau (CFPB) has issued a new report underscoring the impact of tech giants, their policies and practices on mobile payments adoption, use, and trends. This is particularly true of technology allowing tap-to-pay functionality on smartphones and watches. The way these companies choose to behave has had a direct impact on access to mobile payments. For instance, Apple currently bans payment apps and banks from being able to access the Apple iOS device…

Paytm mobile payments revenue spikes by 39 percent

08/08/202308/03/2023 Sam Lambert

As paying with phones becomes more commonplace, the company is watching its revenue rise. Indian mobile payments company Paytm recorded a year-over-year growth in revenue of 39 percent during the second quarter of 2023, which came to a close on June 30. The company credited increases in gross merchandise value (GMV) for the revenue increase. The mobile payment system and financial technology firm stated that its increase in revenue was attributed to the rising GMV, merchant subscription revenues, and loans the platform distributes. This was announced in the company’s earnings…

Businesses will want to pay attention to this mobile wallet trend ahead of Black Friday

11/08/202111/05/2021 Jorge Gonzalez

Companies accepting this form of transaction are seeing improved loyalty from consumers. Retailers are getting ready for their pre-Black Friday sales that will all be a build toward the big day, something that hasn’t been seen in two years in many parts of the country, and mobile wallet trends are being taken very seriously. Merchants across the country have seen a dramatic trend toward contactless payments. As lockdowns and stay-at-home orders eased from the pandemic crisis, consumers heading back into stores have shown a substantial preference toward contactless payment methods…

Contactless mobile payments will see use by 100 million Americans this year

05/11/202105/10/2021 Jesse Collins

Contactless mobile payments - Image of Google Pay

The pandemic has caused a sharp change in favor of the contact-free transaction methods in the US. Efforts to slow the spread of COVID-19 are being attributed to the trend toward the use of contactless mobile payments in the United States. Consumer shopping behaviors have altered to avoid touching commonly used surfaces. Before the pandemic, the adoption of contactless mobile payments had bee slow and gradual when compared to many other countries around the world. Consumers were satisfied with the convenience of using their credit and debit cards and didn’t…

Zimbabwe mobile payments get a shot in the arm from cash crisis

11/16/201711/15/2017 Sam Lambert

The country is suffering from a shortage of cash as Bitcoin simultaneously makes its presence larger. A suddenly downward shift in the availability of cash has driven Zimbabwe mobile payments into a position in which it is experiencing rapid growth. This represents quite a change for the country which has always had a glut of banknotes available. In fact, the $100 trillion note actually exists. However, the country has suddenly found itself in a position of cash shortage, forcing other transactions into popularity. As Zimbabweans search for ways to pay…