1. ONLINE
IN-STORE
MOBILE APP
Global mobile payments accounted
for $52.9 billion in transactions in 2010
and are projected to grow by nearly
14 times to $721.4 billion by 2017.2
14x
$
721.4b
2017
GROWTH OF MOBILE TRANSACTIONS
$
52.9b
2010
2010
2011
2012
2013
2014
2015
2016
2017
$52.9b
$101.1b
$163.1b
$235.4b
$325.2b
$431.1b
$563.4b
$721.4b
2014
EMVco releases tokenization
standard, paving way for
secure mobile payment
transactions
2014
Apple Pay, the first
mainstream mobile NFC
payment platform, launches9
2014
Mobile transactions
exceed desktop
transactions for the first
time ever
2015
Samsung announces
Samsung Pay, featuring new
technology that is compatible
with both NFC and magnetic
stripe terminals
2009
Starbucks launches
its mobile card app
in 16 stores6
2010
Square launches its
credit card reader7
2012
A majority of
cellphone users are
smartphone users8
2013
Android announces Host Card
Emulation, simplifying process of
payments in Android phones
2006
PayPal Mobile
launches5
1997
Coca-Cola builds
vending machines that
accept payments over
text message3
2001
Motorola partners with
Domino’s to create the first
mobile system to order
and pay for pizza delivery4
2001
100,000 of the 3 million
Americans with web-enabled
phones make mobile
purchases this year5
2004
The first donation via
text message system
launches in the Czech
Republic
HISTORY OF MOBILE PAYMENTS
MAJOR MOBILE PAYMENT PLAYERS
MERCHANT AND RETAILER MOBILE PAYMENT ACCEPTANCE
According to research by the Federal
Reserve, 40% of merchants currently
accept mobile payments and another
40% plan to accept them
in the coming years.15
Consumers are ready—nearly three
quarters (72%) expect mobile
payments to be widespread in the
next three to five years.16
The future of payments looks radically
different than it does today. By 2020,
experts expect consumers will rely
primarily on mobile payments for
buying goods and services, sending
money and doing business.
40%
GLOBAL MOBILE PAYMENT BREAKDOWN
2015 vs. 2045 (Projected)
Africa
Key fact: Africa is the most
developed mobile-payment
player and encompasses
more than double of the
world’s mobile money
services, many of which
come from SMS-based
services such as m-pesa,
which is used by 92% of
Kenyans10
North America
Key fact: Mobile
transactions have
nearly doubled since
last year in the region11
Middle East
Key fact: Bankers in this
region are most
concerned that mobile
payments will
negatively impact
loyalty12
South America
Key fact: Mexico, Brazil
and Chile have the
highest adoption rates
in the region13
Asia-Pacific
Key fact: Mobile
dominates retail, as
32% of consumers shop
with mobile compared
to only 21% on desktop
computers
8%
30%
18%
8%
37%
26%
27%
9% 14%
31%
Global internet users who would
prefer to use mobile payments
over traditional methods14
NOTE: All brand names and logos are the property of their
respective owners, are used for identification purposes only,
and do not imply product endorsement or affiliation with Visa.
SOURCES
1) http://www.engadget.com/2014/02/11/two-thirds-of-americans-now-have-smartphones/;
2) http://www.statista.com/statistics/226530/mobile-payment-transaction-volume-forecast/;
3) http://payments.intuit.com/history-of-money-and-payments; 4) https://mozido.com/mobile-payments-now/;
5) http://visual.ly/global-rise-mobile-payments?utm_source=visually_embed;
6) http://www.forbes.com/sites/quora/2014/06/13/why-is-the-starbucks-mobile-payments-app-so-successful/;
7) http://venturebeat.com/2010/05/11/square-launch/; 8) http://www.asymco.com/2014/07/08/late-late-majority/;
9) http://www.mobilecommercedaily.com/mobile-pay-seen-trailing-cards-despite-dominance-over-desktop;
10) http://www.omlis.com/omlis-media-room/worldwide-use-of-mobile-payments/;
11) http://www.economistinsights.com/analysis/how-mobile-transforming-retail-banking;
12) http://www.mobilepaymentsinsider.com/2014/08/08/africa-tops-worldwide-figures-for-mobile-payment-adoption/;
13) http://www.statista.com/statistics/320545/us-mobile-payment-methods-device/;
14) http://www.statista.com/statistics/261114/share-of-internet-users-who-would-prefer-to-mobile-payments/;
15) http://www.kc.frb.org/publicat/econrev/pdf/14q2hayashi-bradford.pdf;
16) http://www.mckinsey.com/~/media/mckinsey/dotcom/client_service/Financial%20Services/Latest%20thinking/Payments/MoP17_
From_solutions_to_adoption_The_next_phase_of_consumer_mobile_payments.ashx
BUYING INTO MOBILE
In the past decade, no technology has transformed the
consumer lifestyle more than the smartphone. Two
thirds of Americans now own smartphones1
and more
consumers are using their mobile devices to
send and receive payments every day.
Smartphones have already revolutionized
messaging, photography and media—
and payments are next.