Emerging markets top mobile payments awareness index

More than half of consumers around the world (52%) now say they know which types of mobile payment services are available to them today, but the percentage varies widely between individual countries and across different regions and consumers in emerging markets are significantly more aware of their options than those in the developed world.

China tops the list with 77% of consumers aware of the mobile payment options available to them, the latest Ipsos Global Trends survey of 18,180 adults in 23 countries has found, followed by India (76%) and Indonesia (67%).

Consumer awareness of payment options by country
RESEARCH: Ipsos looked at consumers’ awareness of the mobile payment options available to them around the world

Consumers in South Korea are the next most aware at 64%, followed by Brazil (60%), Mexico (59%), South Africa (59%) and Russia, Turkey and Peru all at 57%.

In Europe, Poland tops the poll at 56%. Germany and the US tie on 48% and are followed by Sweden and the UK on 47%, Italy (46%), Argentina and Belgium (42%), Spain (41%), Australia and Canada on (39%) and France (38%)

Japan is at the bottom of the list of 23 countries, at 27%.

“Half the people on the planet now say they couldn’t live without their smartphone (54%), says Suraya Randawa, head of financial services at Ipsos Loyalty.

“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.”