To be able to meet these interests, banks and the payments ecosystem at large need to act with even greater agility, speed and flexibility to accelerate the digital transformation in our region. And for this, collaboration is key.

Proximity mobile payments are reshaping traditional payment methods in Latin America, providing consumers with a faster, more convenient and streamlined payment experience for their everyday purchases. This year, we forecast that 13.3% of Latin America smartphone users ages 14 and older will make at least one proximity mobile payment. That represents 33.4 million individuals or 6.7% of the region’s population.

Buy now, pay later solutions are quickly gaining adoption as consumers look for new financing options and merchants aim to drive sales. But the industry is still unsettled as a number of firms are battling to lead the space, while card networks and issuers are looking to get involved too.

Finally, the proliferation of IoT devices will create new payment portals for anything from municipal meters to more elaborate vending machines or smart appliances, providing new opportunities for financial institutions. Imagine new APIs for financial data. 4G created a new app ecosystem, and 5G will add new types of services based on richer media and proliferation of IoT devices.

Europe (including the UK) is home to some big B2B embedded finance names, but it doesn’t yet boast a comprehensive embedded finance ecosystem like Asia and the US.

From touchless payment to scanning a QR code to see a menu, our customer experience has changed a lot over the past year. The pandemic has clearly had a major impact on what customers need from the brands that serve them.

As in-housing efforts accelerate and transparency requests become more frequent, questions about performance, payment and partnerships within the digital advertising ecosystem only proliferate. We predict nearly all brands this year will push harder for that itemized breakdown of the “tech tax” that we know claims a significant portion of media dollars.

By following the Synchrony model, issuers can build out their acquisition pipelines, stretch into new demographics, and pull customers with high potential for affluence and growing average lifetime value into their ecosystems. Alternative credit.

Seniors ages 60 and over can reach an agent more easily and get help with online shopping, payment, ride-hailing, health codes, online pharmacies, and doctor’s appointments. Technological innovation is only one prong of Beijing’s efforts toward inclusivity of the elderly—training seniors to operate intelligent applications is another that featured prominently in the implementation plan.

Apple Pay’s dominance and increasing store adoption of mobile proximity payment technology is driving growth in transaction volume in the US, new eMarketer estimates show. This year, we estimate that mobile proximity payment transactions will total $98.88 billion this year, growing another 31.8% to $130.36 billion next year.

Social commerce includes products or services ordered via social networks, for instance through Facebook Marketplace, Instagram Checkout, WeChat Mini Programs,​ Line Shopping, VK Market and others, regardless of the method of payment or fulfillment; but excludes travel and event tickets, payments (such as bill pay), taxes or money transfers, food services and drinking place sales, gambling and other vice

We forecast that US mobile payment volume will rise from an estimated $705.28 billion in 2019 to an estimated $2.541 trillion in 2025 across mcommerce, proximity mobile payments, and mobile peer-to-peer (P2P) payments. In short, mobile devices are becoming central to enabling payments to retailers.

Factors leading to the use of facial recognition payments include China’s more relaxed attitude toward data privacy, supportive government policies, an innovative digital ecosystem, consumers’ general interest in new technology and investments by the country’s largest internet firms, including Alibaba and Tencent.

DCEP will increase digital payment penetration. A national digital currency issued by China’s central bank, Digital Currency Electronic Payment (DCEP) will bring broader access to proximity mobile payment to a greater percentage of the country’s population.

Technology convergence is giving birth to an ecosystem of new inter- and intra-industry partnerships among companies that, in the past, may have made strange bedfellows. For example, automakers, online payment providers, location-based advertisers and entertainment companies are now working together on a variety of initiatives.

On the other, Epic Games, maker of “Fortnite,” has become the latest publisher to rebel against the 30% fee for payments and Apple’s often strong-arm attempts to force payments to go through the app store. Epic intentionally violated Apple policy by offering its own payment system within its apps, and when Apple turned the update down, it sued.

Messenger already has peer-to-peer (P2P) payment capabilities in the US, but the new system will extend a user's payment options beyond fund transfers between friends to payments to businesses and charities on Facebook's platforms. It's also the first major payment service for WhatsApp and Instagram.

Convenience is one factor which can yield many opportunities for retail competitors to grow in the same ecosystem with Amazon Prime. This can mean convenience in shipping/delivery options, convenience in returns, convenience in payment types accepted, ease of purchase and a host of other customer service approaches.

The method has rapidly become a normal part of the ecommerce ecosystem. Although infection rates are declining in the US and the vaccine rollout is proceeding steadily, we project that click-and-collect usage rates will continue to grow.

Tencent allowed JD.com to leverage WeChat’s digital ecosystem, including its massive user base of over 1 billion MAU (monthly active users), the in-app payment system WeChat Pay, as well as the sharable in-app mini-programs with no download required.

Insurers have been moving to tie payment structures to VBC, and it’s affecting more and more physicians: 36% of US physicians drew compensation, at least partly, from value-based payments in 2020, according to a Deloitte report. The figure has crept up steadily from the 30% and 31% that said the same in 2016 and 2018, respectively, according to prior Deloitte surveys.

Payment management and fulfillment systems are also left to them. eMarketer: Where does marketing come in? Baret: My team is driving the ongoing development and technology approach, and we deal with anything related to the front-end experience, including the front-end layers of the web services and marketing penetration index [MPI].

This includes Facebook Marketplace, Instagram Checkout, WeChat Mini Programs, Line Shopping, VK Market, and others, regardless of the method of payment or fulfillment. Definition excludes travel and event tickets, payments such as bill pay, taxes, or money transfers, food services and drinking place sales, gambling, and other vice goods sales.