Tag: mobile payments preferences

Mobile payments preferred by video gamers

WorldPay has revealed its latest data in a whitepaper that showed that paying using smartphones is favored.

According to the latest research findings from online and mobile payments and risk services provider, WorldPay, consumers around the world are using their smartphones as an alternative method of paying with credit cards on an increasing basis when it comes to buying video games.

The whitepaper revealed that gamers like the opportunity to use their gadgets instead of plastic cards.

The whitepaper was entitled “Video Games Payment Preferences” and it included the data regarding the outcome of the survey responses from 7,554 gamers who have purchased a video game online. It asked them about the frustrations that they experienced throughout this process, as well as about their interest in alternative methods of paying, such as the use of mobile payments. Among the respondents, 51 percent were using those alternatives, when compared to 46 percent who were still using debit and credit cards for buying these products.

It should be noted that mobile payments were one category of the alternative payments in the WorldPay survey.

Mobile payments and mobile gamingAside from mobile payments, other methods that were included in the alternative category were real money based e-wallets, credits and points based systems, direct transfers and direct debits, mobile phone carrier billing, and cash vouchers.

The study also determined that the highest amount of use for alternative and mobile payments was from consumers residing within emerging marketplaces. It determined that 71 percent of gamers in Russia were using alternatives, while the same could be said of 79 percent of the consumers in China.

WorldPay explained that e-wallets have been a considerable driving force behind the increase in the use of alternative and mobile payments. Among all overall transactions, this category made up 27 percent of the total. This was true regardless of whether gamers were purchasing new games, or expansions or modifications to existing video games. Although this may represent only just slightly over one quarter of all of the transaction types in terms of volume, the company pointed out that this should still be taken very seriously as it is also an extremely rapidly growing category.

Mobile commerce study reveals consumer payment preferences

The research revealed that 29 percent would rather pay with their smartphones than credit or cash.

A recent mobile commerce study has revealed that nearly one third of Americans have stated that if they could carry only a single item when they leave the house, it would be their smartphones, even over and above their wallets.

This preference has occurred at the same time that a growing interest has revealed itself in smartphone payments.

These discoveries were among the results of a mobile commerce analysis that was conducted by PayPal. It also indicated that most consumers in the United States – 86 percent – wish that they wouldn’t need to carry a wallet at all. The report on the study also looked into the consumer attitudes in four other countries, which were: Canada, the United Kingdom, Australia, and Germany. They saw a similar trend toward smartphone payments in each of those countries.

At the same time, the report indicated that businesses are falling behind consumer interest in mobile commerce.

Mobile commerce mobile paymentsWhat it showed was that businesses are not keeping up with what consumers want from mobile commerce and payments. It has indicated that 68 percent of Americans have found themselves in a situation in which they would want to buy something but they didn’t have any cash on them. Another 30 percent stated that this happens to them frequently. However, PayPal did not include any data about the attitudes regarding business owners for accepting smartphone payments within the report.

Another mobile commerce study performed by Gartner, showed that transactions will likely grow to reach $235.4 billion before the end of the year. Moreover, by 2017, they predict that transactions will hit $721 billion. At the same time, NFC technology – which has been used for many forms of mobile payments services – has not taken off as had previously been predicted, and many high profile services (such as ISIS and Google Wallet) have struggled to take off.

The PayPal mobile commerce survey indicated that shoppers are ready and looking for a change in the methods available to them for making payments, but there is yet to be a market winner because no single system has emerged.