Tag: smartphone payments

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

Jorge Gonzalez
Mobile payments - Romania Flag

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…

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QR codes will be used by almost 100 million Americans by 2025

L. Green
QR codes - Crowd of People - QR Code on Phone

Consumers across the United States will be using the quick response barcodes for a range of uses. A growing number of consumers in the United States are scanning QR codes for a spectrum of different uses and applications. These uses include a broad number of reasons that include everything from information to payments. New research shows that the number of American consumers using their smartphones for scanning QR codes is growing very rapidly, according to an Insider Intelligence forecast. The uses for these barcodes will include everything from gaining more…

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Mobile payments are replacing cash and cards for younger consumers

L. Green
Mobile payments - Person paying with mobile phone

A growing number of young people are turning to their phones to complete transactions. Young people are increasingly turning to mobile payments to make their purchases, as they use traditional transaction methods to a decreasing degree, said the result of new Marqeta data. The card issuing platform released the results of a recent survey of 4,000 customers across 3 continents. The Marqeta survey involved the participation of 4,000 respondents living on three continents. Of those respondents, 1,000 were from the United Kingdom. What the survey found was that most (61…

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Biometrically authenticated mobile payments to break $1 trillion milestone in 2027

John Montgallo
Mobile payments - fingerprint scan

The value of the transactions is going to breach $1.2 trillion in five years, says Juniper Research. The value of mobile payments biometrically authenticated is expected to reach $1.2 trillion worldwide by the close of 2027, according to a recent Juniper Research study. The study expects a massive growth rate from the $332 billion the transactions are currently worth. Juniper Research has provided an evaluation of the transition from traditional transaction security methods such as passwords and PINs to biometric authentication of mobile payments, in its paper titled: “Mobile Payment…

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Figure Pay mobile payments system could offer small and local businesses an advantage

Jesse Collins
Figure Pay - person using mobile wallet to may payment

The new fintech-created system could bring down the cost of digital transactions. Figure Pay, a mobile payments system based is aiming to bring new and more affordable digital transactions to local small businesses. Mobile payments have taken off since the start of the pandemic, but this hasn’t been easy on small businesses. The Figure Pay app was developed by Figure Technologies. That company is a small fintech from Silicon Valley using technology developed in Missoula, Montana. Its goal is to employ blockchain to slash the costs associated with this type…

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