Tag: ystats

Mobile payments to reach $3 trillion in the next five years

New report predicts the global growth of mobile commerce and payments volume

Market research firm yStats has released a new report that predicts that mobile payments will continue to boom globally. A growing number of consumers are becoming more prone to shopping online and using their mobile devices to pay for products they are interested in. These consumers are also using their mobile devices to pay for products in physical stores. As this becomes more common, the mobile commerce market is expected to reach new heights in terms of payment volume.

Mobile payments will outpace online payments in terms of growth

The report predicts that online payments will exceed $3 trillion within the next five years, with the mobile space driving growth. Mobile payments are expected to outpace online payments in terms of growth over that period of time. New mobile commerce platforms being supported by retailers are making it easier for consumers to pay for products in physical stores. Some of these platforms have managed to find a great deal of success among consumers and the demand for new, mobile-centric services offered by retailers is growing.

Mobile commerce proves to be an attractive concept to many companies

mobile payments to growThe mobile commerce market shows so much promise that companies that had not been involved in commerce are beginning to show interest therein. Snapchat is one of the latest organizations to break into the mobile payments field. The company recently unveiled its new Snapcash service, which allows users of the Snapchat application to send money to one another. Apple also recently entered into the mobile payments space with its own platform, called Apple Pay.

Asia-Pacific region may be the leading market in the mobile commerce field

The Asia-Pacific region is expected to be the leading market wherein mobile commerce thrives. The report from yStats notes that online payment users in China has reached 300 million, with mobile payment users reaching 200 million. In Japan, mobile commerce has been quite common for several years now, but new services are making it possible for consumers to purchase products in stores with nothing more than their mobile devices.

Mobile commerce is booming in Europe

New report highlights the performance of mobile shopping in European countries

Mobile commerce is experiencing a promising period of success in Europe, according to a new report from yStats. The report shows that countries in Western Europe boast of high degrees of smartphone and tablet penetration, which is creating a favorable environment for mobile payments to thrive within. Mobile devices have become part of people’s lives in these countries and many are becoming more comfortable with the notion of mobile shopping. The report notes that Sweden and the United Kingdom are among the countries that have the highest mobile shopper penetration in the world.

Germany and Austria are seeing a great deal of mobile shopping activity

In Central Europe, Germany is currently considered the leader when it comes to mobile penetration. High degrees of smartphone and tablet ownership have lead to an increase in mobile commerce sales throughout the country. Mobile sales accounted for more than 10% of all online retail sales in 2013. Austria is experiencing similar success, with nearly one third of its online shoppers making a purchase from a mobile device.

UK currently leads the way when it comes to mobile commerce sales

Mobile commerce growth in EuropeThe UK currently leads other Western European countries in terms of mobile retail activity and e-commerce sales. Sales from tablets are growing significantly faster than sales from smartphones in the United Kingdom. Tablets are becoming favorable because of their larger screens and somewhat higher processing power. These devices provide a more enjoyable shopping experience for some consumers, which is why they are beginning to see more mobile commerce activity than smartphones.

Europe may establish itself as a favorable market for mobile payments and shopping in the near future

Europe may soon become the premiere battleground for the mobile commerce industry. Currently, the Asian-Pacific is considered one of the most active and attractive markets when it comes to mobile payments and retail, but European brands are beginning to become more mobile-centric. As consumers become more comfortable with the idea of mobile shopping and payments, Europe is likely to continue finding success in the mobile commerce field.