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    Global mobile payment market to hit $620bn in 2016

    February 4th, 2016

    Consumers across the globe will use their mobile phones to spend a total of US$620bn on all forms of mobile transaction this year, representing a 37.8% year-on-year growth from $450bn in 2015, research from TrendForce reveals. By 2017, total mobile payment revenue will reach $780bn, climbing to $930bn in 2018 and $1.08tn in 2019. More

    Visa took majority of European contactless payments in 2014

    January 29th, 2016

    Visa PayWave accounted for 61% of the 1.4bn contactless payments made in Europe in 2014, research from RBR reveals, with MasterCard PayPass accounting for the “vast majority” of the remainder. “Contactless has spread rapidly in Europe and RBR forecasts the payment volume to increase nine-fold between 2014 and 2020,” the firm adds.

    Study reveals global views on payment data security

    January 27th, 2016

    A 16-page study that presents findings from research into how companies approach payment data security is now available to download from the NFC World Knowledge Centre. The study also reveals why IT professionals believe the risk… More

    US EMV shipments to hit 617m units in 2016

    January 27th, 2016

    EMV shipments in the US will reach approximately 617m units in 2016, ABI Research predicts. “In 2017, shipments are forecast to dip by approximately 5% with later shipments likely to settle within the 600 and 615m range,” says senior analyst Phil Sealy. “EMV migration in the US ramped up quickly, with market penetration likely to hit close to 100% over the next two years.”

    Samsung Pay to become market leader in Asia?

    January 7th, 2016

    Samsung Pay will become the mobile payments market leader in Asia, with a 49% share of the market in 2016, a Korean investment firm predicts. “Hyundai Securities is estimating that 200m Samsung smartphones will have Samsung Pay next year,” Etnews reports. “As Samsung joins hands with UnionPay, it is expected that Samsung Pay’s influence will expand starting from China.” Samsung announced its partnership with China UnionPay in December 2015.

    Contactless payments across Europe set to rise nine-fold by 2020

    December 9th, 2015

    The volume of contactless payments in Europe is forecast to rise almost nine-fold to 12.2bn in 2020 compared to 2014 and account for 13% of all card payments, according to research released by RBR. The number of contactless cards issued is also expected to treble from 2014 to just short of 700m by 2020 — representing more than 40% of the total regional card base. More

    16bn biometric mobile payments will be made by 2020

    December 9th, 2015

    More than 16bn mobile biometric payment transactions will be made and more than 1.1bn financial services customers will be using mobile biometrics by 2020, research from Goode Intelligence predicts. “Adoption is being seen across almost all of the financial services industry — from traditional ATMs to alternative Bitcoin wallets,” the firm says. “Mobile is fast becoming the biometric authenticator of choice for the financial services industry.”

    BLE beacons will deliver 1.6bn coupons by 2020

    December 8th, 2015

    Nearly 1.6bn coupons will be delivered annually to consumers via Bluetooth Low Energy (BLE) beacons by 2020, up from 11m this year, Juniper Research predicts. “However, the research cautioned that the use of beacon technology was very much a work in progress, with many retailers concerned that excessive, indiscriminate messages pushed by the beacon could be perceived as intrusive and damage their relationship with the customer,” the research firm says.

    Beacons to drive $7.5bn in holiday season spending

    November 27th, 2015

    Bluetooth low energy (BLE) beacons and proximity marketing solutions will drive US$7.5bn in spending by millennials in the US this holiday season, research from beacon network inMarket predicts. “In 2015, the top five product categories to benefit from in-store proximity engagements were deli items, over the counter medication, wine and spirits, non-alcoholic beverages and snacks,” the company adds.

    Retail giant Otto to shutter Yapital mobile payments business

    November 27th, 2015

    German retail giant Otto Group is to close down its Yapital mobile payments service due to the “highly competitive but slow-developing digital payment business”. Yapital is to remain active as an e-money institution in the business-to-business (B2B) market,… More

    Smartwatches to play key role in mobile banking

    November 24th, 2015

    Smartwatches will be used to access banking apps 10m times in 2017, rising to more than 100m times by 2020, Juniper Research predicts. “While wearables, including smartwatches and glasses, are not suited for conducting complicated financial instructions, wrist-based wearables will become a key device for multi-factor authentication,” the company says.

    NFC secure element shipments grow 40% in 2015

    November 18th, 2015

    A total of 490m NFC secure elements will be shipped in 2015, up 40% on the 350m shipped in 2014, smart security industry association Eurosmart reports. A total of 590m units is expected to ship in 2016, up 20% on 2015. More

    Mobile biometrics revenue to reach $9bn by 2018

    November 17th, 2015

    The inclusion of biometrics in mobile devices will generate US$9bn in revenue by 2018, a report by Biometrics Research Group predicts. “Worldwide revenues within the mobile biometrics sector will total US$45bn by 2020 and 650m people will be using biometrics on mobile devices by the end of 2015,” the company says. “Biometric smartphones will increase tenfold from 200m users in 2015 to 2bn users by 2020.”

    BBVA reports more than 1m downloads of HCE mobile wallet app

    November 13th, 2015

    More than one million consumers have downloaded BBVA’s host card emulation (HCE) mobile wallet since it launched in June 2014. The Spanish banking group is now expanding the service to Turkey and expects more than… More

    Biometrics for financial services to be worth US$657m by 2019

    November 10th, 2015

    The market value of biometric identification for financial services applications will increase from US$123m in 2015 to US$657m in 2019, research from TrendForce predicts. “The significant growth is mainly driven by innovations within the global finance industry,” the company says. “Among regions, Asia Pacific has the largest growth potential, followed by Europe.”

    Americans to spend $27bn via mobile payments in stores in 2016

    October 26th, 2015

    The total value of mobile payment transactions in the US will grow 210% in 2016 and nearly one in five smartphone users will make a mobile payment in a store next year, eMarketer’s latest proximity mobile payments forecast predicts. More

    Khosla predicts NFC will replace EMV cards in three to five years

    October 26th, 2015

    EMV will become irrelevant in three to five years’ time and NFC will take over, Khosla Ventures founder Vinod Khosla has told attendees during a keynote at Money20/20. “All these backroom boys agreed on something… More

    Mobile to account for 20% of US POS payments by 2020

    October 21st, 2015

    US consumers will use their smartphones to make mobile payments at the point of sale five times a week by 2018 and, by 2020, 20% of POS transaction volume will be conducted via mobile devices, research from Carlisle & Gallagher Consulting Group reveals. “Mobile will account for at least 60% of US digital commerce revenue by 2020,” the company adds.

    32% of US retailers to accept contactless by 2019

    October 16th, 2015

    Nearly a third (32%) of retail establishments in the US will accept contactless EMV card payments by 2019, Javelin forecasts. “In the next wave of card issuance, Javelin believes the speed and convenience offered by contactless EMV cards could be instrumental in gaining top-of-wallet status, as well as attracting and retaining more affluent customers,” says the research firm’s Michael Moeser.

    One billion people make use of mobile banking

    October 13th, 2015

    More than 1bn mobile phone users will have used their devices for banking purposes by the end of this year, Juniper Research predicts. “This global user base is forecast to reach 2bn by 2020, by which time it will represent 37% of the global adult population,” the researchers add.

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