Global Mobile Payment Industry Statistics and Trends

GLOBAL MOBILE PAYMENT Statistics and Trends Estimated Global mobile payment market to hit $620bn in 2016 2016 $620 billion 2015 $450 billion 2016 $620 billion 2017 $780 billion 2018 $930 billion 2019 $1,080 billion Estimated number of Mobile money services 271 271 Estimated Number of Mobile Money Services (by region) Sub-Saharan & Africa 145 South Asia 45 Latin America & Caribbean 30 East Asia & Pacific 28 Middle East & North Africa 16 Europe & Central Asia 79% of mobile payment users would make more mobile payments if offered discount pricing or coupons based on past purchases 79% Incentive for non-users to start making mobile payments Discount pricing / coupons Special offer on reward points Improve your shopping experience special offer 54% 53% 53% Able to scan product and present information about product Tracks spending habits Valued customer treatment 49% 48% 48% Eliminating the requirement for check out Receive loyalty offers Receive notification for upcoming produce releases at store 47% 46% 35% Common Barriers to Mobile Wallet Usage Don't want store to have mobile wallet info Worried about Don't want to security pay any fees 62% 40% 26% No single payment system across merchants Credit cards have better rewards Not convenient 19% 15% 14% Not available at stores of choice 9% Usage Patterns by Transaction Type for Mobile Payments Quick service Food/Drinks Grocery Store Convenience Store ©O0 40% 39% 34% Full-Service Restaurant Large Retailer Parking 33% 31% 29% Household Bills Taxi Services Telecom Services 29% 28% 27% Compiled & designed GO-Globe web design web applicationsidentity seo Source Links: http://www.nfcworld.com/2016/02/04/341939/global-mobile-pay- ment-revenue-to -hit-620bn-In-2016/ https://www.statista.com/statistics/226530/mobile-pament -transaction-volume-forecast/ https://www.accenture.com/120151021T165757_w_/us-en/_acnmedia /Accenture/next-gen/na-payment-survey/pdfs/Accenture-Digital -Payments-Survey-North-America-Accenture-Executive-Summary.pdf http://www.gsma.com/mobilefordevelopment/wp-content/uploads /2016/04/SOTIR_2015.pdf