2014 11 04 trends in the market
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Mobile payments have grown significantly over the past few years, increasing from 46% of consumers in Q1/2011 to 81% in Q1/2014. The use of mobile payments by consumers has steadily increased each year. This one-page document shows the growth in percentages of mobile payments by consumers from 2011 to 2014 without any additional context.
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2014 11 04 trends in the market
- 1. Mobile payments & market trends
- 12. Q1/11 46% Q1/12 61% Q1/13 78% Q1/14 81%
Editor's Notes
- Will QR Codes be the future? It is being supported on evry Mobile with Camera and online connections In US The MCX merchant organisations will launch their CurrentC, in the Nordics we have Seamless and mCash supporting QR Codes
- What about Blueooth Low Energy, it have been a lot of buzz around beacons the last year. But are payment the best solution for this technology or are there other functionality more suitable? AppleStore og spesielt Paypal har trua på dette
- Do we need any other devices, couldn’t we just connect our current accounts to our mobile numbers for both persons and merchants? In the Nordics we have Swish, Swipp, MobilePAY, in UK we have ZAPP, Paym
- But are maybe NFC and contactless the future? Contactless cards, Valyou launch in Norway.
- The future of payments isn’t about the wallet, the swipe, the tap or authentication. For consumers it is about synergy, context, advice and benefits. Apple Pay ignites the customers!
- Host Card Emulating gives the control back to the issuer and Mobile Network Operator loses his position.The Brands are supporting Secure Elements in the cloud and later today we will hear more about this
- Transport for London; På 9 dager: More than one million journeys have been paid for using a contactless payment card since Transport for London (TfL)began accepting the cards on the underground and commuter rail services on 16 September. 600 000 på busser “Contactless payments are now making up nearly five percent of all pay as you go journeys on the
- So maybe we now can admit that NFC is the future for instore payments. Tokens are being used in both Apple Pay and HCE to keep up with security issues. This is good news for banks and other issuers.
- There are also some other important trends in this payment landscape, let’s look at some of them
- Generation Y,, Online and social I want it all and I want it now! Keep it simple
- Andel Smarttelefoner i Norge, blant de høyeste i verden. Vi er et rikt land. 73% become panicked 14% become desparate And 7% get sick! Only 6& get relived
- Apps have to be spesialized to be succesful, simple, useful and the users are in control Maybe «big» mobile banking (as a mobile branch) is not the future!
- New mobile technology; Mobile become payment card, Mobile become POS device, Mobile become wallet and Mobile become preferred internet device. Android 4.4 NFC Host Card Emulation, iPhone 6 /Apple Wauch med TouchID, Cloud computing
- Biometric; On mobile and ATM we have heard a lot of before. But now also on cards? (Mastercard & Swipe) What will the cost of plastic be?
- Trust: Trust is important, it takes year to build and seconds to destroy Local trust create good reputation Turns to global trust and trust generates real value in a global complex world A research by Vocalink said that it is banks who are ideally placed to be the trusted providers of mobile payments
- Banks are moving upwards the stairs step by step, we don’t see that many banks acting disruptive. Stairway to heaven cans be replaced by Stairway to cloud!
- Visa predicts 500 million UK contactless payments in the next year More than 50 million Visa contactless cards in UK consumers’ hands by the end of 2015 TfL becomes world’s first transit network to accept Visa contactless cards on multiple forms of transport UK, France, Slovakia, Poland, Turkey, Spain leading the way London, 25 September 2013 - European consumers have made 211 million contactless purchases in the last 12 months (August 2012 to July 2013), according to figures released today from Visa Europe. The monthly contactless spend has also increased six fold to €285 million in July 2013 as consumers have become increasingly comfortable with using contactless technology. In the 12 months since Visa’s Flow Faster advertising campaign starring Usain Bolt, €1.8 billion has been spent on contactless Visa cards, with an average purchase value of €8.63. Mark Austin, Vice President - Head of Contactless at Visa Europe said: "A year ago we launched the Contactless 2012 campaign to raise public awareness of contactless technology and the convenience and flexibility it brings to day to day payments. We are delighted to see the technology now being used so frequently across Europe as consumers become confident in making every day contactless payments and we’re excited about the number of new shops due to roll out contactless payment in the remainder of 2013." - See more at: http://www.visaeurope.com/en/newsroom/news/articles/2013/european_contactless_spend.aspx#sthash.Vc1n6Fmd.dpuf Between 2012 and 2017 the installed base of NFC-enabled handsets will increase at a compound annual growth rate of 65% to reach 2.1bn units, according to new research from Berg Insight. "The penetration rate of NFC-ready POS terminals is projected to be an estimated 87% in the European Union plus Switzerland and Norway by the end of 2017 "Gartner forecasts that NFC will account for only about two percent of total transaction value in 2013 and five percent of the total transaction value in 2017, although growth is expected to increase somewhat from 2016 when the penetration of NFC mobile phones and contactless readers increases."
- Some statistics: 700 000 Merchants worldwide accepted contactless cards and mobiles end 2012 Canada, Poland, Australia and Turkey is the leading countries As of June 2012, there are 22 PayPass-enabled countries in Europe with more than 125 PayPass issuers. There are more than 1 million PayPass cards issued in each of the following countries: UK, France, Turkey, Poland, Italy and Germany Poland is the most advanced country in Europe in PayPass: there are more than 1 million taps in Poland each month. The success is thanks to high number of cards, acceptance locations as well as Tap&Get promotions and cashless contactless festivals.
- V1.0 – CitiBank and Google Mastercard prepaid V2.0 Wallet in the cloud Google I/O Conference in May: NEWS: Send Money via Gmail Instant buy API for Developers- Mobile and Internet shopping Google Wallet API – Same as Apple Passbook for loyality cards, Google is already working with several brands, including Alaska Airlines, The Body Shop, BJs Restaurants, Marriott Rewards, and RetailMeNot HCE
- Apple: Apple already has 435 million active iTunes accounts worldwide, each one linked to a credit card. It likes to remind us of this relatively frequently. The company has been expected to extend its offering to include mobile payment solutions for what appears to be an age. According to Schiller, the iPhone 5′s Passbook app, which can be used to ”store loyalty cards and gift cards as well as things like boarding passes and baseball tickets,” is more than sufficient. What’s more, Passbook is more widely accepted than NFC. And this looks the main reason why Apple hasn’t jumped on board the NFC bandwagon — it’s not available in all territories and it would not make sense to include a feature that not everyone can use. NFC Dongle, the iCase with a built-in MicroSD Card: But do banks want to issue physical device to their customers? Apple has applied for a patent on a combined virtual currency and digital wallet technology that would allow you to store money in the cloud, make payments with your iPhone, and — just maybe — communicate with point-of-sale terminals via NFC. Not to mention making money by viewing ads. The patent application, published today by the U.S. Patent and Trademark Organization, details how iPhone users could walk into a store, pay for goods with their phone, and walk out with their merchandise. All of this is possible today, of course, but Apple’s patent application mentions — although does not require — NFC, something that Apple has long resisted adding to the iPhone. NFC facilitates digital wallets and cashless purchasing by wirelessly transmitting payment credentials and pricing information. Interestingly or oddly, as it strikes you, the patent application includes considerable discussion of “free” services or products that users of the system could access. For example, watching ads could result in getting “tokens” that are redeemable for offsetting your mobile carrier costs, or even providing them completely for free. Or, like a high-tech virtual coupon, sponsors could assign tokens for any other specific purpose or use they wish, and users could only redeem them for that particular service or product. Read more at http://venturebeat.com/2013/06/06/apple-files-imoney-patent-for-virtual-currency-digital-wallet-and-free-stuff/#2CWyKX12m7wvGjbI.99 Using Bluetooth Low Energy(BLE), iBeacon opens up a new whole dimension by creating a beacon around regions so your app can be alerted when users enter them. Beacons are a small wireless sensors placed inside any physical space that transmit data to your iPhone using Bluetooth Low Energy (also known as Bluetooth 4.0 and Bluetooth Smart). For example, imagine you walk into a mall with an iPhone 5s (comes with iOS 7 and iBeacon). You are approaching a Macy’s store, which means your iPhone is entering into Macy’s iBeacon region. Essentially iBeacon can transmit customized coupons or even walking directions to the aisle where a particular item is located. It can prompt a customer with special promotions or a personalized messages and recommendations based on their current location or past history with the company. Smartphones that are in an iBeacon zone will benefit from personalized microlocation-based notification and actions.
- Insight work made by EVRY Self Service and EGGS design Some finding
- Whats your economic peronality, are you structured or messi? Whats your digital competence Are you really interesting in your personal finance?
- The banking solution must help you: Present your balance before buying Better overview of future invoices Simplifying «walking» into the apps, Entering a shopping mall with security cheks just to get a cup of coffe?
- Familiy banking Friends, your private groups Wheres the Family Banking App?
- Apps SmartBalance on your devices when you need it, (Weather, clock and balance?) Invoice racer, Apps for bill payments only Spendific, app for Students inspired by Training apps
- Introducing EVRY card companion Following this trend we’ve created an app, fine tuned to match the most likely scenarios you encounter as a card user Supporting hte full life cycle of the card, from card activation, different usage situations, and card blocking Cards and mobile goes together like peas and carrots They are the perfect match! With this app you get quick access to all information regarding your card and its use Instanty, in real time No log in, no menues, no navigation, no fiddling In-and-out in a second, literally! And a place for your HCE Cards!!
- New creative customer changing behavior