Tag: europe mobile payments

Europe is now the leader in mobile commerce, followed by Asia and North America

Europe is now leading the world in mobile payments, according to a new study from Adyen, a global payment technology company. Consumers throughout Europe have been showing aggressive interest in mobile commerce, and the growth of mobile shopping has been supported by European retailers and the growing popularity of mobile technology. Mobile devices are beginning to play a significant role in the lives of people everywhere, and this is leading to a growing demand for mobile-centric commerce.

Study shows that Europe accounted for 24% of all mobile payments made throughout the world in the third quarter of this year

According to the study from Adyen, 23% of all online payments during the third quarter of this year came from mobile devices. During the second quarter of 2014, 21% of all online payments came from mobile devices. Europe accounted for 24% of all mobile payments made during the fourth quarter, with Asia accounting for 17%. North America has been very slow to embrace mobile commerce in any significant way, but that may change in the future.

The future sustainability of businesses may be tied to mobile technology

Adyen suggests that the future of business lies in the mobile sector. Companies that can adapt to local mobile payment preferences of consumers are likely to find a significant degree of success. Consumers are looking for relatively simple, but robust payment solutions that they can use on their smartphones and tablets. They are also looking for businesses that can satisfy their mobile interests. As such, companies that manage to capture the mobile audience stand to see significant growth.

Security remains a serious problem for the mobile commerce sector and the businesses therein

There are still many challenges that the mobile commerce world faces, one of the most serious of which is security. Many mobile payment platforms lack the security needed to keep consumer information safe. This problem is compounded by the fact that many retailers are somewhat unfamiliar with mobile technology and the risks that exist in the digital world.

A new survey has revealed that a growing number of companies in the E.U. accept payments via smartphones.

A new report has recently been released by yStats.com, a secondary market research company based in Hamburg, Germany, which has suggested that European mobile payments is a growing trend in the continent.

The report also pointed out that more companies are accepting transactions online, boosting regular e-commerce.

The “Europe Online Payment Methods 2013 – Second Half 2013” report showed that the use of smartphones for European mobile payments is growing in use for making traditional retail purchases in the E.U. countries as well as in other regions around the world. The report pointed out that the transactions being completed by way of smartphones and tablets has been increasing its share of the overall digital space, and that it is expected to make its way into the double digits by the year 2020.

In 2010, European mobile payments represented only 1 percent of all online forms of transaction.

This will require an extremely rapid level of growth an adoption if it is to reach at least 10 percent of online transactions only a decade later. The reports data showed that this technology is making the biggest headway in Turkey, Spain, and the Netherlands, among countries located in Europe. This is particularly true in the use of smartphone banking. The highest traditional online banking – where it is above 80 percent, is in Norway, Finland, and the Netherlands.

There is extremely promising growth being seen in European mobile payments and traditional online transactions in the mature markets of the central part of the continent. For example, in Germany, PayPal and invoice were the two most popular forms of B2C E-Commerce transaction methods. Furthermore, the smartphone paying method is starting to take off quickly in areas that have implemented terminals for parking or ticketing, with 10 percent of consumers having tried those technologies at least one time in 2012.

The report predicted that in the Western sub-region of the continent, the transaction value of European mobile payments will be growing by half in 2013 when compared to the year before.