The fourth financial quarter of 2015 saw mobile payment transactions grow to one third of all transactions.
The levels of engagement differed across the globe, as Asia saw high growth while Europe and the US saw nuanced growth in comparison, according to data released by Dutch firm Adyen.
I’ve decided to look into the news and find out more.
The Asia region leads the rest of the world in regards to purchase levels, as companies based in the continent saw rises in customers using mobile devices to make purchases.
For example, the payment branch of Chinese e-commerce ‘giant’ Alibaba saw a 9% jump in transactions from the same quarter in 2014 – taking the total up to 44% of transactions.
In Japan, credit card company JCB saw over half of its payments made through mobile devices.
Commenting on the news, Warren Hayashi of Adyen said:
“Merchants that have created a frictionless mobile checkout experience are driving repeat traffic, especially in Asia where many consumers are increasingly shopping online through a mobile device”
This is unsurprising given news from recent years that point towards virtual shops for Asian customers.
There were apparent differences regarding the devices used in Asia when compared to Europe and North America.
For example, tablet use is much more prevalent in the US and Europe compared to Asia, with twice and nearly three times as many purchases being made on tablets respectively in the two Western regions.
Issues surrounding security of mobile payments were also raised by separate data reported by security company Gemalto. Commenting on the development, Gemalto CEO Jean-Francois Schreiber said:
“These independent research findings should be a wake-up call for business leaders…The financial fallout from data breaches and the damages to corporate reputation and customer relationships will carry even greater potential risk as newer payment methods gain adoption”
The statement clearly points out that concerns about mobile transactions still exist, despite their increasing popularity.
Avner Motaev is the director of Mobile2Business, a provider of telecommunications solutions to businesses in Austria. Mobile2Business is an official business partner of T-Mobile.