Mobile payments—both proximity payments and P2P transfers—continue to grow rapidly in volume. User growth is slowing, and increased spending will primarily come from existing users spending more often via mobile phones.View this Report
With few well-known tourist attractions, Finland may seem like an unlikely travel destination. But tourism from China—and thus retail spending—is soaring. Finnair's Henrik Balk and Finavia's Elena Stenholm explain why.
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Primary Proximity Digital Payment Technologies that Mobile Payment Users in China Consider Most Time-Saving, 2018-2022 (% of respondents)
Smartphone Users in Select Countries Who Have Used a Smartphone to Make a Payment or Purchase Digitally, Aug 2019 (% of respondents)
Smartphone Users in Select Countries Who Make Mobile Payments In-Store/at Other Physical Locations*, Aug 2019 (% of respondents)
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Greater Acceptance of Contactless Cards Has Led to Mobile Payment Growth in the US
Jan 14, 2020
The US has been relatively late in introducing contactless cards, which are credit or debit cards that include a near field communication (NFC) chip that can complete a transaction simply by tapping on a reader. But those cards are starting to arrive in the US now that most point-of-sale (POS) systems have the NFC capabilities to accept them.
How Visa Is Working to Develop Mobile Payments in Latin America
Jan 09, 2020
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.
China Advertising Year in Review: Trends from 2019 that Are Here to Stay
Dec 26, 2019
China has proven to be a hotbed for digital innovations, especially in the past few years. During this time, marketers worldwide have observed the latest trends coming out of the country, applying what they learn to their own markets.
How Mercado Pago Is Reshaping Mobile Payments in Latin America
Dec 04, 2019
In response to changing consumer behavior, mobile payment platforms around the world are innovating quicker than their traditional bank counterparts. Latin America is no exception; it is home to Argentina-based Mercado Pago, a major player in the global adoption of cashless transactions.
China Is Moving Toward a Cashless Society
Nov 25, 2019
In 2019, we estimate that 577.4 million people in China made a purchase via proximity mobile payment within a six-month period. Those users account for 49.6% of the country’s population. Next year, more than half of the population will utilize this payment method, with that figure rising to 60.5% in 2023.
Retailers Are Embracing Mobile Payments
Nov 21, 2019
One of the biggest drivers for proximity mobile payment growth is the ever-expanding footprint of stores accepting payments. According to Apple, 74 of the top 100 retail chains accepted Apple Pay as of January 2019, and more have joined since then.
Why Proximity Mobile Payment Usage Lags in France
Nov 07, 2019
A pioneer in smart card technology, France was the first country worldwide to introduce chip-and-PIN payment cards. Now, contactless cards are also widely available, but that has held back adoption of mobile payment alternatives.
Strong Growth from Venmo and Zelle Drives P2P Transaction Volume
Nov 05, 2019
Peer-to-peer (P2P) payments are increasing significantly in the US, driven by tremendous growth from Venmo and Zelle. eMarketer’s latest estimates show that P2P mobile transactions will total $309.95 billion this year, growing 27.9% to hit $396.48 billion in 2020.
Apple Pay Dominance Drives Mobile Payment Transaction Volume
Oct 28, 2019
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.
Contactless Competition and Digital Limitations Stifle Proximity Mobile Payment Growth in the UK
Oct 25, 2019
The UK is a nation of digitally advanced consumers. However, it lags behind many other countries we track when it comes to proximity mobile payments. No other country comes remotely close to China’s rate of penetration among smartphone users—81.1% vs. just 19.1% in the UK. But whereas the UK tends to come somewhere toward the top of most lists of digital adoption, in this case it falls toward the bottom of the “moderate adoption” bucket according to our adoption categorizations, below the likes of Indonesia and Italy.