Global Mobile Payment Methods 2019

Global Mobile Payment Methods 2019

  • March 2019 •
  • 114 pages •
  • Report ID: 5753476 •
  • Format: PDF
In terms of mobile payment adoption, Asia-Pacific is on top

Mobile Wallets performing well in Asia-Pacific

Mobile payments are used by more than a third of Internet users globally, quoted yStats.com’s latest report. The Asia-Pacific region outperforms the rest of the global regions by a double-digit lead. The Chinese market for mobile payments alone holds over half a billion users, using services such as WeChat Pay, Alipay and others. The region also sees growth in this area in Singapore, India, Australia and Indonesia.

Asia-Pacific is not alone in the mobile payments race

In regard to interest in mobile payments, Latin America follows Asia-Pacific, as cited by yStats.com. In other regions, mobile wallets including Apple Pay and Google Pay have gained popularity in E-Commerce payments, for example in the USA and Europe. The Middle East and Africa still are driven by cash, but new mobile money and mobile wallet solutions are projected to obtain an increased market share.

Security in mobile payments to be strengthened by biometric authentication

Despite security concerns over mobile payments from consumers, the global market outlook remains positive. Security innovations in the mobile payments sphere including biometric authentication are projected to aid consumers in overcoming this issue, according to the report.

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