News about Forecast.
July 26th, 2016
Almost two thirds of US consumers (62%) expect the country to become a cashless society in their lifetime, research released by Gallup reveals. “Solid majorities in all age groups say they can foresee a US society without cash, including 58% of those 65 and older and 63% of 18-to-29 year olds,” the firm says. “54% still say they like to have cash on them at all times. 42% say they are comfortable not having cash on them.”
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.
June 22nd, 2016
PayPal will “hurt” from the launch of Apple Pay on the web, according to Piper Jaffray analyst Gene Munster. “Munster has confidence in merchant adoption of Apple Pay for the web, predicting that as many as 43% of PayPal’s merchants will accept Apple Pay at launch,” AppleInsider reports. “He believes that PayPal may be hurt, in part, by the fact that it does not feature a customer loyalty program.” Apple announced its plans to launch Apple Pay for online payments at WWDC last week.
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 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
Singapore bank UOB expects that NFC mobile payments will account for 10% of all its card transactions by 2020 on the back of “swift adoption of Apple Pay”, according to The Business Times. Around 19,000 cards from UOB have been enabled for Apple Pay in just two weeks since the bank announced its support for the service in May 2016.
June 2nd, 2016
The global mobile ticketing market is expected to grow at a compound annual growth rate (CAGR) of around 16% between 2016 and 2020, according to Technavio. “In 2015, EMEA dominated the global mobile ticketing market by accounting for around 42% of the overall market share,” the firm says. “The QR and barcodes segment accounted for around 50% of the market in 2015 to become the dominant shareholder.”
May 31st, 2016
The global mobile biometrics market will grow at a compound annual growth rate (CAGR) of more than 103% between 2016 and 2020, research from Technavio predicts. “The increase in the adoption of mobile devices for financial transactions is the primary driver for the market,” the firm says.
May 27th, 2016
One in four British consumers intend to use their mobile phone to make NFC-based mobile payments in the next 12 months, according to research from MasterCard. One in 20 are already making NFC mobile payments once…
May 26th, 2016
Almost 1.6bn coupons will be delivered annually to consumers via Bluetooth Low Energy (BLE) beacon technology by 2020, Juniper Research forecasts. “This is up from just 11m this year, as retailers seek to develop proximity marketing campaigns in and around their stores,” the firm says. “Spend on digital retail marketing is set to increase from US$174bn in 2015, to $362.1bn by 2020.”
May 25th, 2016
Apple Pay will experience greater success than Android Pay and will “grow exceptionally based on a belief that Apple Pay using a Secure Enclave/secure element inside of iOS has an advantage over Android Pay’s host card emulation (HCE) in that it’s more secure, with a similar user experience,” according to Piper Jaffray analyst Gene Munster. “We believe that Apple Pay will offer the most seamless payment experience on iOS regardless of whether its in-app, in-browser or in-store,” Barron’s reports Munster as saying.
May 23rd, 2016
The average UK adult made 20 card payments per month in 2015, of which around one in 10 were contactless, research released by Payments UK reveals. “By 2025, we are predicted to use a debit, credit or charge card virtually every day and almost half of these transactions, 14 per month, will be contactless,” the organisation says. “Many of these payments may be made using a mobile phone.” Payments UK also predicts that by 2025, cash will only be used for 27% of payments.
May 12th, 2016
The Bluetooth Low Energy (BLE) beacon market will more than double in 2016, remaining on track to break 400m shipments by 2021, ABI Research forecasts. “Beacons are also going to have an effect on mobile advertising,” the firm says. “The dedicated beacon advertising market will grow strongly, but collaboration and aggregation of networks will also be a developing trend in 2016.”
May 4th, 2016
Digital payments across Australia, including those made with a mobile device at the point of sale, will be worth A$1.897bn (US$ 1.42bn) by 2020, Frost & Sullivan predicts. “Mobile payments are expected to take off in 12-18 months,” says the firm’s Saranga Sudarshan. “Apple Pay and Android Pay will revolutionise this market. Smartphone prevalence facilitates a high adoption rate for a more convenient and secure form of paying, compared to physical cards or cash.”
April 26th, 2016
Worldwide spending on Internet of Things (IoT) security will reach US$348m in 2016, a 23.7% increase from 2015 spending of $281.5m, Gartner predicts. “Spending on IoT security is expected to reach $547m in 2018,” the firm says. “Gartner predicts that IoT security market spending will increase at a faster rate after 2020.”
April 19th, 2016
Almost 23bn transport and events tickets will be purchased globally using mobile devices by 2020, Juniper Research predicts, more than double the volume expected this year. “With a number of transport agencies enhancing app capabilities and integrating new payment services such as Apple Pay, the past 12 months have witnessed an increase in mobile ticketing users using apps for payments as well as ticket delivery and validation,” the firm says.
April 19th, 2016
UK retailer The Co-Op has predicted that 65% of all transactions at its supermarkets and convenience stores will be made using mobile phones by 2025. The forecast follows research released by the company which shows that almost 11m contactless transactions now take place at its 2,800 locations every month.
April 14th, 2016
The number of cashless transactions at Hungarian festivals will reach 7m this year, representing an increase of 27% compared to last year’s 5.5m, research from Festipay predicts. “In 2015, the most frequently visited Hungarian festivals were 90% cashless,” the payment solutions provider says. “This year, Festipay electronic payment solutions will be used at as much as 18 festivals.”
April 12th, 2016
Nearly nine in ten US merchants using ShopKeep technology (87%) have seen little-to-no adoption of mobile payments at their business in the past six months, research released by the POS system provider reveals. “Despite these findings, 59% of small businesses still predict that, in the next two years, 50% of consumers will be using mobile payments such as Apple Pay as their primary payment method,” ShopKeep adds.