Consumers around the world are increasingly buying and making payments for everyday transactions using their mobile devices, with the total value of mobile payments expected to rise by $430 billion by 2015.
In the summer of 2008, I was in Paris delivering a mobile payments presentation to the CEO of a French bank. At the end of the meeting, he asked me when we would see more than 50 percent of retail payments transactions in developed markets go through mobile.
Shoppers in the United States are increasingly going mobile in large numbers as they utilise the latest mobile technologies. These mobile consumers of goods and services – with the most connected and active of them now dubbed ‘mobile shopping warriors’ – will account for 28 percent of the $447 billion expected to be spent by American consumers in the coming holiday season.
Black Friday numbers are strong across the board, according to initial reports coming in today from retailers and payments companies. As IBM reported earlier today, total online sales saw a surge of 20.7 percent in spending from last year.
Written by: Beverley Head | Published in: NetworkingThe mobile payments landscape is in flux, as higher smartphone penetration and a range of mobile payments options entice consumers to spend money on-the-move.
Written by: Peter Dinham | Published in: MarketThere’s huge potential for further growth in mobile payments over the next few years, with only 2.1 percent of mobile users currently making m-payments, in a global payments market where debit cards continue to take marketshare away from credit cards.
OpenTable, which first announced its mobile payments pilot program this February in San Francisco, is about to speed things up. The company said this morning that it’s now expanding its mobile payments service to a number of restaurants in New York and plans to introduce payments to 20 more cities before the end of 2014. Read More