The world of mobile payments is growing rapidly, with more and more people using their phones to make payments. As the technology advances, so do the statistics surrounding mobile payments.
In this blog post, we’ll take a look at some of the most interesting mobile payments statistics, and discuss how they can help businesses better understand the mobile payments landscape. We’ll also explore how these statistics can be used to inform strategies for mobile payments adoption. So, let’s dive in.
Mobile Payments: The Most Important Statistics
The total transaction value from P2P mobile payments is expected to increase 25.3% from 2021 to 2022, reaching $983.9 billion.
In 2021, China had the highest mobile POS payment penetration rate at 57%, followed by South Korea and Vietnam at almost 30%, and Denmark and Sweden at 24%.
Mobile Payments Statistics Overview
Mobile payments are being used by over two billion people globally, with the highest adoption in India, South-east Asia, and South America, and the weakest adoption in developed nations.
This is evidenced by the $1.7 billion in mobile payments transaction volume in 2021, a 27% annual increase.
It also highlights the need for companies to focus on developing countries to ensure that mobile payments are adopted and used widely.
81% of smartphone users in China have made a proximity mobile payment in the past 6 months, compared to 41% in Denmark; it is estimated that 1.31 billion users will be making proximity mobile payments by 2023.
On this, we can see the rapid growth of mobile payments worldwide, with China leading the way in terms of adoption.
Thus, mobile payments are becoming increasingly popular and businesses should take advantage of this trend in order to stay competitive.
The total transaction value from P2P mobile payments is expected to increase 25.3% from 2021 to 2022, reaching $983.9 billion.
This shows the growth of P2P mobile payments in the US market. It indicates that mobile payments are becoming increasingly popular and accepted, which is beneficial for businesses and consumers alike.
It also shows that mobile payments are becoming more secure and reliable, which is important for businesses to consider when deciding which payment methods to accept.
The global P2P payments market size is expected to reach USD 8.07 trillion by 2030, growing at a CAGR of 17.53%.
Apple Pay achieved a higher market share in the US than Google Pay in 2020, and had a larger presence in the UK than the US or Canada by early 2022. Apple Pay is a successful and popular payment service, despite its limited availability on Android devices.
In 2021, China had the highest mobile POS payment penetration rate at 57%, followed by South Korea and Vietnam at almost 30%, and Denmark and Sweden at 24%.
It proves the different paths taken by countries around the world when it comes to mobile payment adoption.
Apple is the most valuable brand in the world, expected to reach a value of $947 billion in 2022, and is popular among younger to middle aged consumers, especially females, with a customer base that is mainly of middle to high economic status.
Apple is a major player in the mobile payments industry, and understanding their customer base can help inform strategies to target and reach more potential customers.
There are over 1.65 billion Apple devices in use globally, with almost 50/50 usage between men and women. Over 10% of iPhone owners own Apple Watches, and almost 85% of current iPhone users plan to purchase another iPhone.
iOS users account for 30% of mobile device users globally, and more than half of US-based MacBook users are from small towns and rural areas.
This data indicates that Apple devices are popular among both men and women, and that many people are likely to continue using Apple devices in the future. It also shows that Apple devices are popular in both urban and rural areas, which could be important for businesses looking to target mobile payments users.
The number of mobile internet users in China is expected to increase from 1.03 billion in 2021 to 1.05 billion in 2022.
As more people gain access to the internet via mobile devices, the number of people using mobile payments is likely to increase. This could have a significant impact on the mobile payments industry in China.
The penetration rate of online shopping in China has decreased from 81.6% in 2021 to 80% in June 2022.
This shows the trend of how many people are using online shopping as opposed to traditional methods of shopping. It can provide insight into how mobile payments are being used in China and how they are impacting the overall shopping landscape.
Conclusion
In conclusion, mobile payments are becoming increasingly popular as more and more people are turning to their smartphones to make payments. The statistics show that the number of mobile payments is growing rapidly, and that the majority of users are satisfied with the convenience and security of mobile payments.
As the technology continues to evolve, it is likely that mobile payments will become even more popular in the future.
References
1 - https://www.businessofapps.com/data/mobile-payments-app-market/
2 - https://www.statista.com/topics/4872/mobile-payments-worldwide/
3 - https://www.oberlo.com/statistics/us-mobile-payment-market
4 - https://www.globenewswire.com/en/news-release/2022/08/25/2504945/0/en/P2P-PaymentsMarket-Size-is-projected-to-reach-USD-8-07-Trillion-by-2030-growing-at-a-CAGR-of-17-53-Straits-Research.html
5 - https://www.statista.com/topics/4322/apple-pay/
6 - https://www.statista.com/forecasts/1256541/mobile-pos-payment-penetration-rate-by-country
7 - https://www.start.io/blog/apple-target-market-analysis-apple-demographics-marketing-strategy-competitors/
8 - https://serpwatch.io/blog/apple-customer-demographics/
9 - https://www.statista.com/statistics/273973/number-of-mobile-internet-users-in-china/
10 - https://www.statista.com/statistics/302071/china-penetration-rate-of-online-shopping/
ZipDo, cited June 2023: Mobile Payments Statistics
