News about Research.
July 21st, 2016
There were 326.8m chip cards in the US as of the end of June 2016, exceeding the number of people who live in the country, Visa has reported. “The US added more than 100,000 chip-enabled merchant locations in June, bringing the total to 1.3m, or about 28% of the total merchant population,” the payment network says. “More than three-quarters of those chip-ready locations are small and medium-sized businesses. In June, one in four dollars spent in-store on a Visa card was spent with a chip card in a chip terminal.” The number of Visa chip payment transactions hit 483m in June.
July 20th, 2016
More than half of Irish debit and credit card owners (54%) are using contactless payments when purchasing goods and services, research released by payment technology provider BOI Payment Acceptance (BOIPA) reveals, with the average contactless payment standing at €11.33.
July 14th, 2016
More than two thirds (68%) of European consumers want to use biometrics as a method of payment authentication, research from Visa reveals, and 73% see two-factor authentication as a secure way to confirm an account holder’s identity.
July 11th, 2016
Apple Pay captures the greatest proportion of eligible users in the US with 33%, followed by Samsung Pay with 23%, research released by Auriemma Consulting Group (ACG) reveals. However, Samsung Pay users report higher satisfaction levels and fewer issues at the point of sale compared to Apple Pay users, with near equal proportions recommending both mobile payment services.
July 8th, 2016
Customers who pay using NFC mobile payments are more likely to leave a tip, according to a survey by mobile POS provider Square. 73% of customers tipped when using NFC mobile payments compared to 71% who tipped using EMV and 67% who paid using magnetic stripe cards at the point of sale.
July 6th, 2016
A 29-page white paper that explores the payment industry of Bangladesh and includes a detailed examination of its current systems, the evolution of alternative payment methods and the uptake of NFC, tokenization and EMV is now available to download from the NFC World+ Knowledge Centre.
July 5th, 2016
The total value of Bitcoin transactions is expected to exceed US$92bn this year, up from less than $27bn in 2015, Juniper Research predicts. “Transaction volumes continued to be concentrated overwhelmingly on the exchanges, with Bitcoin now trading at values almost 50% higher than at the beginning of the year,” the firm says.
July 5th, 2016
July 4th, 2016
More than 25% of US smartphone owners make use of mobile payment apps at least once a month, research from Parks Associates reveals. “More than 3m retailers combined accept Apple Pay and Android Pay, but consumers currently prefer retailer-specific apps such as the Starbucks payment app,” the firm says. “The most dominant payment app is currently PayPal, which is used by one in five smartphone owners.” Retail branded apps take second place, followed by Google Wallet/Android Pay and Apple Pay in third.
June 27th, 2016
More than two thirds of Indian millennials (67%) have purchased goods online and in-store using their mobile phone, research from ACI Worldwide reveals. “For those who shop using their mobile device, they do so more frequently — and with lower transaction values — than non-millennials,” the research firm says. “More than a third of respondents prefer alternative payments (e.g. PayPal, Alipay) for mobile-initiated purchases.”
June 27th, 2016
Amazon is to announce that it is adding “dozens of new brands” to its Dash push-button ordering devices despite “evidence that consumers are cool to them”, The Wall Street Journal reports. “Fewer than half of people who bought a Dash button since March 2015 have used it to place an actual order, estimates Slice Intelligence,” the publication says. “Those consumers who do order make a purchase roughly once every two months.” The Dash Replenishment Service was launched in January 2016.
June 23rd, 2016
Some 35% of all card-present transactions conducted globally between January and December 2015 used the EMV chip card standard, up from 32% in 2014, standards body EMVCo has revealed. The number of EMV payment cards in global circulation also increased by 1.4bn to 4.8bn over the 12-month period.
June 22nd, 2016
The number of consumers using contactless ticketing on mobile or wearable devices will approach 300m by 2021, Juniper Research predicts. “This will represent around one in five mobile ticketing users across rail, metro, bus, airline, sports and entertainment,” the firm says. “NFC is unlikely to have much impact in the near-term on the purchase of airline tickets, with this activity remaining largely remote via online or mobile channels.”
June 22nd, 2016
Two out of five US consumers (40%) have or would use in-store mobile payments, up from 34% in 2015, research from Bank of America reveals. “The majority (57%) of consumers would consider or are already using a P2P money transfer service from their bank,” the bank adds. “Nearly two in three (62%) respondents use mobile or online as their preferred method of banking. More than half (54%) of consumers also say they are active users of a mobile banking app, up from 48% last year.”
June 21st, 2016
More than two thirds of UK consumers (68%) believe that cashless technologies will completely replace physical money by 2036, research released by the Mayor of London’s promotional company London & Partners reveals. The figure is higher in London, where three quarters of people believe cash will disappear within 20 years. The research is based on 2,000 respondents and has been released to coincide with London Technology Week, hosted by London & Partners and MasterCard.
June 20th, 2016
Mobile payment transaction volume will grow by 42% to reach 26.9m in 2016, up from 18.9m in 2015, research from Future Market Insights predicts. “In terms of value, this will represent nearly US$768.78bn, up from $549.91bn in 2015,” the firm says. “Payments made through NFC, widely touted as the technology of the future, will witness the highest year-over-year growth rate, increasing at over 59% in 2016.”
June 14th, 2016
Android Pay tops the list of the most popular mobile payment services used by US consumers with 19% saying they have made an in-store payment via the service, research from Walker Sands reveals.
June 7th, 2016
The number of Chinese consumers making in-store mobile payments more than doubled last year and almost half of all smartphone users in the country will be making proximity mobile payments by 2020, according to research…
June 7th, 2016
Attendees at the Government of Dubai Media Office’s Arab Media Forum charitable event were given NFC wristbands that let them tap on NFC scan stations and donate AED 170 (US$46) towards research into life-threatening illnesses such as cancer, obesity and cardiovascular diseases.
June 3rd, 2016
Apple Pay has “made only a small dent in the global payments market” due to technical challenges, low consumer take-up and resistance from banks, according to a report by Reuters. “Apple Pay usage totaled US$10.9bn last year, the vast majority of that in the US,” the publication says, citing research from Timetric. “That is less than the annual volume of transactions in Kenya, a mobile payments pioneer.”