Mobile Payment Methods are becoming more and more important worldwide, while some Customers still have Safety Concerns
According to estimates, the volume of mobile payments will globally increase in 2012 by approximately 70 percent. An example of this growing market is China. In the six months leading up to the first quarter of 2012, more than 60 percent of all Chinese consumers made at least one mobile payment. India and South Africa are following China's example.
Mobile Payment Methods are increasingly significant in North and Latin America
In the USA, the total value of mobile payments is expected to increase by a three digit percentage figure over the next few years. Even though in July 2012, mobile payment methods were not yet widespread in Canada, banks and companies are already starting to introduce such payment systems.
The online payment sector has strongly increased in Mexico up until the beginning of 2012. However, mobile payments are not yet very common there. In the first quarter of 2012, consumers in Argentina preferred making online payments for goods through PCs and laptops. Argentinians still consider mobile payment methods too unsafe.
Mobile Payment Trends in Europe
In the third quarter of 2012, the most popular mobile payment methods in Europe were card payments, so-called micro payments, which can be used to easily pay smaller amounts for apps, and payment on invoice. In 2012, the Brits were still hesitant when it came to mobile payments. Fewer than 20 percent of all consumers in the UK want to use their mobile phones to make future payments. The majority are still concerned about safety. In April 2012, in Germany payments added to the mobile phone bill were quite popular. With "Direct Carrier Billing" the charges for a product are paid directly to the consumer's mobile phone provider. French citizens were especially motivated to use mobile payments in 2012 in order to save on their purchases. Italians are enthusiastically embracing mobile payment methods. The Italian market for mobile payment methods is expected to grow annually by a three digit rate over the next few years. Spanish company Telefonica Digital signed agreements with companies like Google in July 2012 to enable payments via phone bill. Thus, the market is also growing in Spain.
In 2012, 56 million customers of Russian company "VimpelCom" have been given access to "TOT Money", a mobile payment platform operated by "Net Element International". Forecasts for Eastern Europe predict a large increase in the mobile payment market until 2015.
At the beginning of 2012, the market for mobile payment methods was very fragmented in Sweden. Customers were able to choose from various technologies offered by different competitors. Danes are very careful about entering credit card information. Approximately 40 percent of all Danes wanted to re-enter their credit card details at every new purchase in the first quarter of 2012, while others preferred to save the information without having to enter it every time anew.
The Market for Mobile Payments continues to grow in Asia and Africa
The number of mobile payment users in China is likely to reach almost 400 million by 2014. In 2012, Japan recorded more than 200 million mobile non-contact payments.
Mobile payments are also widespread in Africa, because they are easily accessible, as shown in the "Global Mobile Payment Methods 2012" report by Hamburg-based secondary market research specialist yStats.com. This also spurred B2C E-Commerce in general in 2012. The volume of mobile payments in Kenya increased by approximately 60 percent between 2010 and 2011.
Mobile payment methods are on the increase worldwide, and while in some countries, such as the UK and Denmark, skepticism regarding safety is higher than in others, it is generally decreasing.
yStats.com GmbH & Co. KG
yStats.com has been committed to research up-to-date, objective and demand-based data on markets and competitors for top managers from various industries since 2005. Headquartered in Hamburg, Germany, the firm has a strong international focus and is specialized in secondary market research. In addition to offering reports on markets and competitors, yStats.com also carries out client-specific research. Clients include leading global enterprises from various industries including B2C E-Commerce, electronic payment systems, mail order and direct marketing, logistics, as well as banking and consulting.
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