News • 06.04.2021

Payments keep going digital and mobile

2.7 billion people to use mobile wallet apps by 2022?

Someone is holding a smartwatch close to a payment device...
Source: © PantherMedia/Andriy Popov

As businesses open their doors online, payments solutions adjust to the change – and so do people. In a study conducted for Payvision, Kaleido Intelligence reports on the latest trends and forecasts in mobile wallets usage across the globe.

Payvision reports that by 2022 more than one billion people will use Apple Pay, Google Pay and Samsung Pay. 

Contactless payments are becoming a necessity, both for customers and businesses. Every week 11% of online shoppers worldwide buy via smartphone, and 34% of them claim making this their primary payment method. In its report Kaleido Intelligence foresees that 50% of the wearable devices will include a payment functionality.

“Contactless payments reign supreme in a world where strict health regulations call for people to avoid physical interaction. It is certain that people who have discovered the benefits of convenient, contactless online shopping will want to continue enjoying them. More businesses, if not all, will need to allow online payments to keep up with this demand.” says Ellerd Liem, Director POS at Payvision.

As the public is discouraged from using cash, m-commerce and mobile payments are in fact the best solution throughout COVID-19 and beyond. They guarantee a safe, contactless option that meets the needs of both businesses - which are increasingly mobile based, and their customers. As Visa observed in April 2020, cardholders touched a checkout terminal 50% less than usual.

The overall impact of this drove the total m-commerce spend for digital services and physical goods onto an upward trajectory that will reach USD 3.16 trillion in 2021 and USD 3.79 trillion by 2022.

Ellerd Liem of Payvision explains: “Now that people have discovered the benefits and convenience of online shopping, they’ll continue relying on this method. To beat out the competition and keep up with the innovation, businesses must prioritize an omnichannel strategy, that brings faster processes, personalized service, and 24/7 support.” 

Payvision’s report confirms it: the way we shop has changed forever, due to the health crisis and the related restrictions we’ve been subjected to. 

Source: Payvision

related articles:

popular articles:

Thumbnail-Photo: Automated grocery PickUp kiosk for contactless grocery service...
11.01.2021   #coronavirus #kiosk terminals

Automated grocery PickUp kiosk for contactless grocery service

Albertsons Companies debuts kiosk at Jewel-Osco store in Chicago

Albertsons Companies announced that it is the first American grocer to pilot an automated and contactless grocery PickUp kiosk. The kiosk, located at one of its Jewel-Osco stores in Chicago, demonstrates continued expansion of the company’s ...

Thumbnail-Photo: Denmarks first sustainable DIY store has great success...
30.10.2020   #sustainability #electronic shelf labels (ESL)

Denmark's first sustainable DIY store has great success

Electronic price tags provide price and product information

In February 2020, STARK opened its doors to a whole new and sustainable DIY store in Hørsholm (Denmark), which will make it easier for customers to build sustainably. The store has got a flying start despite Corona and general restrictions in ...

Thumbnail-Photo: Southeast Asian online and offline health and beauty partnership...
06.02.2021   #online trading #e-commerce

Southeast Asian online and offline health and beauty partnership

Grab brings beauty products from over 2,200 Watsons stores to customers’ doorsteps

A.S. Watson Group, an international health and beauty retailer, and Grab, Southeast Asia’s super app, announced the largest O+O (online and offline) health and beauty partnership in Southeast Asia, spanning across six Southeast Asian markets ...

Thumbnail-Photo: More than 400 Danish Coop Stores Now with Electronic Shelf Labels...
29.01.2021   #electronic shelf labels (ESL) #price labelling

More than 400 Danish Coop Stores Now with Electronic Shelf Labels

Back in 2010, the first Coop store implemented electronic shelf labels from the IT company, Delfi Technologies.

Store no. 400 became Irma at Islands Brygge in Copenhagen, which has undergone a major renovation project, where investments have been made into several initiatives to improve the shopping experience – this includes electronic shelf ...

Thumbnail-Photo: A completely new experience at ICA Kvantum with Breece...
15.12.2020   #electronic shelf labels (ESL) #price labelling

A completely new experience at ICA Kvantum with Breece

ICA Kvantum in Lerum has invested in new technology: A cloud-based electronic shelf label

ICA Kvantum Lerum has for a long time been looking for a supplier of electronic shelf labels (ESL), so the staff no longer have to spend time and resources on changing paper shelf labels. It was important that it should be a ...

Thumbnail-Photo: New approach to print solutions
26.11.2020   #printers #POS printers

New approach to print solutions

Citizen presents five ideas on how printers can support sales during the pandemic

It’s been clear for a long while now: confronted with the Corona pandemic, retailers need to resolve bottlenecks such as the point of sale in their retail outlets in order to ensure the safety of their employees and customers. For many ...

Thumbnail-Photo: The 6 technology trends affecting the security sector in 2021...
15.01.2021   #security #brick and mortar retail

The 6 technology trends affecting the security sector in 2021

The trends are shaped by how and why technologies are used

It’s useful when looking forward to first look backward: hindsight has a wonderful way of providing context for future-gazing activity. And when looking back over the past year, one insight could understandably be that attempting to predict ...

Thumbnail-Photo: AR: Touchless virtual makeup try-on solutions...
02.11.2020   #coronavirus #award

AR: Touchless virtual makeup try-on solutions

e-COSMETIC 360 Award winner for groundbreaking innovation in Beauty Tech category

Perfect Corp. is named a winner of the e-COSMETIC 360 Award in the Beauty Tech category. The special announcement took place at the virtual event on October 12 & 13. The winners were selected on the basis of criteria such as the innovative ...

Thumbnail-Photo: App-based mCommerce drives biometric mobile payments...
09.02.2021   #mobile payment #payment systems

App-based mCommerce drives biometric mobile payments

Identification via fingerprint, iris, voice and facial recognition

A new study from Juniper Research has found that biometrics will authenticate over $3 trillion of payment transactions in 2025, from just $404 billion in 2020. The report found that biometrics, including fingerprint, iris, voice and facial ...

Thumbnail-Photo: SALTO Systems invests in Austrian company Gantner...
21.10.2020   #security #access control

SALTO Systems invests in Austrian company Gantner

SALTO wants to strengthen its Access Control solutions portfolio, and welcomes new shareholders.

SALTO is a leading manufacturer in electronic access control solutions. The company has trusted customers in Education (Princeton University, University of Oxford), Hospitality (Hilton, Meliá Hotels and Resorts), Healthcare (Cleveland ...

Supplier

GMO Registry, Inc.
GMO Registry, Inc.
Cerulean Tower, 26-1 / Sakuragaoka-cho, Shibuya-ku,
150-8512 Tokyo
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
Axis Communications GmbH
Axis Communications GmbH
Adalperostraße 86
85737 Ismaning
Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Citizen Systems Europe GmbH
Citizen Systems Europe GmbH
Otto-Hirsch-Brücken 17
70329 Stuttgart