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Global Mobile Payment Industry – Statistics and Trends

November 24, 2016

Did you know the estimated global mobile payment market is to hit $620 Billion in 2016 and will reach $1,080 Billion by 2019. Check out our infographic on Global Mobile Payment Industry for latest mobile payment statistics and trends including incentive for non-users to start making mobile payments, common barriers to mobile wallet usage, usage patterns by transaction type for mobile payments and more.

Global Mobile Payment Statistics

Infographic by GO Globe Web Design Hong Kong Company

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Estimated Global mobile payment market to hit $620bn in 2016

YearEstimated Revenue ( in Billions USD)
2015450
2016620
2017780
2018930
20191,080

Estimated number of Mobile money services – 271

 By RegionEstimated Number of Mobile Money Services
Sub-Saharan & Africa145
South Asia45
Latin America & Caribbean30
East Asia & Pacific28
Middle East & North Africa16
Europe & Central Asia7

79% of mobile payment users would make more mobile payments if offered discount pricing or coupons based on past purchases

Incentive for non-users to start making mobile payments

 Incentives%age
Discount pricing / coupons54%
Special offer on reward points53%
Improve your shopping experience53%
Able to scan product and present information about product49%
Tracks spending habits48%
Valued customer treatment48%
Eliminating the requirement for check out47%
Receive loyalty offers46%
Receive notification for upcoming produce releases  at store35%

Common Barriers to Mobile Wallet Usage

Barriers%age
Worried about security62%
Don’t want to pay any fees40%
Don’t want store to have mobile wallet info26%
Not convenient19%
No single payment system across merchants15%
Credit cards have better rewards14%
Not available at stores of choice9%

Usage Patterns by Transaction Type for Mobile Payments

Usage%age
Quick service Food/Drinks40%
Grocery Store39%
Convenience Store34%
Full-Service Restaurant33%
Large Retailer31%
Parking29%
Household Bills29%
Taxi Services28%
Telecom Services27%