Half the people on the planet now say they couldn’t live without their smartphone (54%). One in five consumers (20%) now make digital (online, app, SMS) payments with mobile devices at least weekly, rising to two in five (43%) on a monthly basis, with emerging market consumers far more likely to pay this way compared to Western European consumers, as banking by mobile takes off and young populations are leap-frogging established markets in adoption.
Digital wallet providers (Apple Pay, Android Pay, Samsung Pay etc.) have won the first battle – consumer awareness. Now 52% overall say they know which types of mobile payment services are available today. They just need to educate more on acceptance – only 40% know which shops and retailers will accept contactless payments via a smartphone.