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Mobile Payments: Growth - Country Comparison - Usage; Whitepaper 2017

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This whitepaper provides insights on growth, compares the main markets, provides consumer views and highlights which mobile payment apps are popular.
More information: statista.com

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Mobile Payments: Growth - Country Comparison - Usage; Whitepaper 2017

  1. 1. Mobile Payments: Growth – Country Comparison – Usage Whitepaper 2017
  2. 2. Mobile Payment Apps are gaining in importance for retailers 2 Mobile Payment Apps allow users the ease of paying contactless via their smartphone or smart device at the point-of-sale. Our analyses show that the transaction value of mobile payments is on the rise globally. Uptake of mobile payments are particularly strong in China; however, the U.S. is catching up, as more and more users are warming to the thought of paying without having to flash the cash. Given this shift, retailers should implement technology that allows users to purchase via mobile apps. Apple Pay is accepted by approximately more than a third of U.S. retailers, boosting Apple popularity in regard to mobile payment solutions. While consumer concern about data privacy and fraud remain main reasons for consumers not to use mobile payments, interest in the technology is strong – in particular when it comes to paying for ‚everyday activities‘ , such as paying in restaurants and cafés. This whitepaper provides insights on growth, compares the main markets, provides consumer views and highlights which mobile payment apps are popular. Background More on Statista.com
  3. 3. The future of payments will inevitable look more mobile 3 1. Mobile payments are growing at a rate of 52% through to 2021, resulting in a transaction value of US$866 billion in 2021 2. China and the U.S. lead the way in terms of user penetration. With a 28% user penetration rate, the U.S. will overtake China in 2019 3. Concerns over personal data and fraud remain barriers for greater adoption 4. Nevertheless, 44% of surveyed people are interested in paying for restaurant and cafés visits via smartphone 5. 36% of U.S. retailers accept Apple Pay, boosting its popularity among consumers Key Takeaways
  4. 4. Transactions via mobile devices rise steadily through to 2021 4 Growth expectations Global¹ transaction value in the „Mobile Payment“ segment² in million US$ 1: Refers to markets covered by the Digital Market Outlook Source: Statista Digital Market Outlook 2016 865.535 713.125 547.578 379.039 224.426 106.013 2020 2021 +52% 2019201820172016
  5. 5. China and US go head-to-head when it comes to Mobile Payment adoption 5 US vs. China: Country Comparison User penetration within the „Mobile Payments“ segment, by country Source: Statista Digital Market Outlook 2016 37% 33% 28% 23% 18% 14% 31% 29% 26% 23% 20% 17% 201820172016 2019 2020 2021 USA China
  6. 6. Consumer concerns over personal data and fraud are barriers to widespread adoption 6 Usage Why have you not used mobile payments yet?¹ 1: N=1,003 respondents; 18 years and older; English-speaking residents in the U.S. Source: Statista Survey 2016 18% 18% 24% 38% 46% 47%Worries over personal data Don’t own a smartphone/tablet The technology isn’t mature Prefer to pay in cash Know too little about it Fear of Fraud
  7. 7. Contactless payments fuel interest, especially for everyday purchases 7 Usage What could you imagine paying for via smartphone in the future?¹ 1: N=650 respondents that have never used mobile payments Source: Statista survey Fintech 2016 33% 36% 37% 43% 44% At restaurants und cafés Buying gas or snacks at gas station Buying everyday groceries Buying clothes, shoes and accessories Tickets to public facilities (e.g. museum, pool)
  8. 8. Apple Pay is accepted by more U.S. retailers, boosting its popularity 8 Usage Most popular digital wallets according U.S. consumers as of December 2016¹ Digital payment methods that U.S. retailers accept² 1: N=1,013 respondents in the United States; 18 years and older 2: 500 retailers, North America; November and December 2016 Source: Vantiv; Socratic Technologies, Boston Retail Partners; MarketingChart 6% 9% 12% 18% 24% 36%
  9. 9. About the Digital Market Outlook 9 This paper provides insights on social media advertising. Further information can be found in the FinTech: Digital Payments Outlook 2016 and via Statista‘s Digital Market Outlook. The Digital Market Outlook provides direct access and download of revenue forecasts, user count & penetration, as well as cross- country comparisons. It includes data on 9 digital markets, Digital Media, Digital Advertising, e-Commerce, eServices, Smart Home, FinTech, eHealth, Connected Car, eTravel and covers 50 countries worldwide. The FinTech market includes Digital Payments, Business Finance and Personal Finance. The Digital Market Outlook is exclusively available on statista.com and is included in Statista Corporate Account and Statista Enterprise Account. 9 markets, 34 segments, 50 countries Further Data Contact Tobias Bohnhoff Head of Market Analytics Tobias.Bohnhoff@statista.com More on Statista.com Tobias Bohnhoff studied Geography and Innovation Management. He gathered deep knowledge of digital transformation processes and innovative business models in numerous research and consulting projects before he started to build up the Digital Market Outlook team at Statista.
  10. 10. Imprint Statista ▪ Johannes-Brahms-Platz 1 ▪ 20355 Hamburg ▪ +49 40 413 49 89 0 ▪ www.statista.com Disclaimer This study is based on survey and research data of the previously mentioned sources. The forecasts and market analysis presented were researched and prepared by Statista with great care. For the presented survey data, estimations and forecasts Statista can not assume any warranty of any kind. Surveys and forecasts contain information not naturally representing a reliable basis for decisions in individual cases and may be in need of further interpretation. Therefore Statista is not liable for any damage arising from the use of statistics and data provided in this report.

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