How U.S. Mobile Payments will Reach $27.05 Billion in 2016
After several years of false starts and delays, as well as new players entering the market, eMarketer expects the use of proximity mobile payments in the U.S. to ramp up aggressively. Transaction value will triple in 2016, due to a growing user base and broader merchant acceptance.
Source: eMarketer
How Obsolete Card Readers are Fueling Retail Cybercrime
Analysis by TrustWave shows that POS infringements represent a growing proportion of security breaches in the retail, food and beverage, and hospitality industries. Not only are attacks becoming more frequent, they are also getting more sophisticated with a growing use of cryptography.
Source: World Economic Forum
Growth Potential for Mobile Point of Sale Payment Applications
Mobile point of sale (mPoS) growth continues as the technology deepens its reach across vertical industries, merchant tiers and geographies. 451 Research has forecast that the global mPoS installed base will grow from 13.3 million units today to 54.03 million units in 2019.
How NFC Tech will Drive Growth in Mobile POS Systems Market
The global mobile point-of-sale (POS) systems market is expected to grow at a CAGR of 9.6 percent in terms of revenue — and 12.7 percent in terms of unit shipment — during the forecast period from 2014 to 2019.
via TechNavio
Smart Card Shipments to Reach 10.9 Billion Units by 2019
Global unit shipments of smart cards are expected to rise by 2.1 billion from 2014 through 2019 — that’s about equal to the combined populations of China, the United States, Indonesia and Brazil, according to IHS. Smart card shipments in 2019 will rise to reach 10.9 billion units, that’s up from 8.8 billion in 2014.
via IHS
Contactless Payment Users will Reach 300 Million by 2017
Since 2011, expectations have been high that mobile contactless payments — enabled via Near Field Communications (NFC) — would rapidly gain traction around the world. This has not come to pass.
The number of consumers making contactless payments via their mobile handsets will reach 300 million globally by 2017 — that’s up from just over 110 million last year.
Global Mobile Payments will Reach $507 Billion in 2014
As the mobile phone evolved from basic voice communication device to a multifaceted lifestyle accessory, making payments has become a key element within that evolution. The mobile device, be it a smartphone or featurephone, can now be used to make payments.
The value of global payments via mobile devices will reach around $507 billion this year — that’s an increase of nearly 40 percent year-on-year.
Why Mobile Payment Use Lacks Momentum in the U.S. Market
The U.S. mobile payment landscape is progressing very slowly. Although two-thirds of American consumers are interested in learning more about transitioning to a smartphone wallet platform, that interest is simply not translating into adoption.
While traditional POS payment methods reign supreme, a number of third-party mobile wallets are jockeying for position.
The Rising Contactless Payment Infrastructure Deployment
Contactless payment technology is applied when the user fulfills a transaction by tapping a card or mobile phone handset against a Chip & PIN machine, rather than swiping a debit or credit card through the Point of Sale (POS) terminal.
Contactless transactions via mobile handsets will exceed 9.9 billion globally by 2018 — that’s up from just over 3 billion this year.
Why Savvy Retailers will Deploy Mobile Checkout Technology
Major retailers can no longer solely rely upon their in-store point-of-sale (POS) terminals for transactions. They must quickly evolve their POS strategy to offer both online and mobile payment options to customers.
Retailers that offer multiple payment options — including a mobile checkout facility — will be able to serve more customers and reduce loss of sales due to the busy shopper’s reluctance to wait in line.
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