The world of mobile payments is rapidly changing, and with it, the way we pay for goods and services. As the technology continues to evolve, it’s important to stay up-to-date on the latest mobile payment usage statistics.
In this blog post, we’ll explore the main mobile payment usage statistics, including the most popular payment methods, the countries leading the way in mobile payments, and the industries driving the growth of mobile payments.
Mobile Payment Usage: The Most Important Statistics
China is the leader when it comes to mobile payments, with 87.3% of the population reported to use contactless payment methods.
Over two billion people used mobile payments in 2021.
Mobile Payment Usage: Statistics Overview
Mobile payment transaction volume reached $1.7 trillion in 2021.
This statistic shows the growth of mobile payment usage and the revenue generated from it. This information can be used to inform businesses and organizations on how to best utilize mobile payment services and how to adjust their strategies to maximize their profits.
China has the highest adoption rate for mobile payments, while India sees a surge, and Germany and France have far lower adoption rates.
This shows the potential for mobile payments to become a global phenomenon, and also highlights the need for banks and customers to be more open to the idea in order to increase adoption rates.
China is the largest contributor to the global payment industry, with 33% of the market share in 2018.
It shows the prevalence of mobile payments in China and how it has become an integral part of the country's economy. It demonstrates the potential for mobile payments to become more widely adopted in other countries, as well as the potential for growth in the mobile payment industry.
AliPay and WeChat Pay are the two dominant players in the Chinese mobile payments market.
This highlights the importance of these two services in the Chinese mobile payments market, and how they are the primary services for their respective e-commerce platforms. This is important to understand when looking at mobile payment usage statistics in China, as it provides context for the prevalence of these two services.
China is the leader when it comes to mobile payments, with 87.3% of the population reported to use contactless payment methods.
Mobile payments have become widely accepted in China, a country with a population of over 1.4 billion people. This demonstrates the potential for mobile payments to become a global phenomenon, as well as how quickly technology can be adopted and integrated into everyday life. Furthermore, it highlights the potential for other countries to follow suit, as well as the need for governments and businesses to prepare for the shift towards digital payments.
In India, the National Bank of India's Unified Payments Interface is the most popular mobile payment method, with PhonePe, Google Pay, and Paytm leading the market.
This provides insight into the mobile payment landscape in India and which services are the most popular. This information can be used to inform decisions about which mobile payment services to use and how to best target potential customers in India.
Taiwan's mobile wallet usage is expected to grow by 30% between 2020 and 2025, with JKoPay being the only homegrown app.
This shows that mobile payment usage is increasing in Taiwan, and that there is potential for more homegrown apps to gain traction in the market. It could lead to more competition and innovation in the mobile payment space, which could benefit consumers.
Mobile contactless adoption has seen an increase in all countries surveyed, with the US experiencing the greatest increase from 29% to 43.2%.
This statistic shows the growing trend of mobile contactless payments, which is becoming increasingly popular as a payment method. This is especially significant in the US, where the adoption rate has increased significantly in a short period of time, overtaking India.
PayPal's user growth slowed in Q3 2022, but registered accounts still increased.
PayPal is still a popular choice for mobile payments, but that the rate of growth is slowing. This could be a sign that other mobile payment services are gaining traction in the market and that PayPal needs to adjust its strategy to remain competitive.
Over two billion people used mobile payments in 2021.
Mobile payments are becoming increasingly accepted and adopted by businesses, consumers, and financial institutions. Mobile payments are also becoming more secure and efficient, allowing for more streamlined payments between individuals and businesses.
Apple Pay is the most popular mobile payment service in the US.
Apple Pay is the most widely adopted mobile payment service in the US. More people are relying on Apple Pay than other mobile payment services, which could indicate that it is the preferred choice for many consumers when it comes to mobile payments. Additionally, the popularity of Apple Pay could mean that it is driving innovation and competition in the mobile payment space, which could lead to better services and more widespread adoption of mobile payments in the future.
Check out our latest Apple Pay Statistics
43.2% of US smartphone owners use mobile payments.
This statistic shows the trend of the increasing use of mobile payments among US smartphone owners. It highlights the rising popularity of mobile payments and the potential of mobile payment technology to become widely adopted in the near future. This statistic also serves as a benchmark for other countries and regions to measure their progress in mobile payment adoption.
Mobile wallets are already by far the preferred payment method in the Asia-Pacific region, where they are projected to make up 47.9% of POS transactions in 2024.
Mobile wallet usage in the Asia-Pacific region is growing rapidly, which is likely to have a major impact on the global payments landscape. Furthermore, it reinforces the importance of mobile payment adoption in this region, as well as the potential for further expansion in the coming years.
Conclusion
In conclusion, mobile payment usage is on the rise and is expected to continue to grow in the coming years. With the convenience and security of mobile payments, it is no surprise that more and more people are choosing to use them. As technology continues to evolve, we can expect to see even more people using mobile payments for their everyday transactions.
References
1 - https://www.businessofapps.com/data/mobile-payments-app-market/
2 - https://moneytransfers.com/news/2022/08/24/mobile-payment-statistics
3 - https://www.statista.com/forecasts/497508/digital-market-outlook-global-comparison-digital-payments-transaction-value
4 - https://www.statista.com/statistics/1271431/mobile-wallet-user-forecast-in-the-philippines/
5 - https://www.statista.com/statistics/1271742/mobile-wallet-user-forecast-in-taiwan/
6 - https://www.merchantsavvy.co.uk/mobile-payment-stats-trends/
7 - https://www.statista.com/statistics/218493/paypals-total-active-registered-accounts-from-2010/
