Mobile payments have been thought to be on the cusp of widespread adoption for several years now. But most consumers have responded to the technology with a noncommittal shrug.
China and India lead the world in the number of proximity mobile payment users, and that's primarily due to an explosion of newly minted middle-class consumers eschewing credit cards in favor of easier to use mobile options.
This year, there will be 82.5 million mobile phone P2P payment users in the US, according to eMarketer estimates.
In the latest episode of “Behind the Numbers,” forecasters Showmik Podder and Chris Bendtsen break out data from eMarketer’s new estimates for mobile payments usage. How many people around the world use mobile phones to make payments? Where are mobile payments the most common? Why would anyone want to pay via phone, anyway?
Starbucks will remain the most popular proximity mobile payment app, staying ahead of Apple Pay and other competitors, according to eMarketer’s latest forecast on US proximity mobile payments.
The user base in the US is split among operating systems and also fragmented across services like PayPal, bank-specific ventures like Chase Pay and retailer solutions like Walmart Pay.
According to a February 2018 survey of US internet users by CivicScience, only 1% of respondents use mobile payments as their primary payment method.
Consumers across the globe are warming up to proximity mobile payments. In 2018, for the first time, more than one-third of smartphone users ages 14 and older will use a mobile phone to pay for a purchase at a physical point of sale at least once every six months.
The use of mobile payments has risen substantially around the world over the past two years, but the bulk of the gain has come from Asia-Pacific markets, according to GlobalWebIndex survey data.
Mobile payments are a fairly popular way of picking up fast-food checks in North America, but the mobile option is far more commonly used in other parts of the world.