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    Mobile payments market worth $3,338bn by 2022

    January 17th, 2017

    The global mobile payments market will reach US$3,388bn by 2022, growing at a compound annual growth rate (CAGR) of 33.4%, Allied Market Research predicts. “NFC has high growth potential and is anticipated to exhibit CAGR of around 36% during the forecast period,” the firm says. “By mode of transaction, in 2015, SMS accounted for about 54% of the overall payments market share, followed by wireless application protocol (WAP). Asia-Pacific is expected to witness the highest growth rate.”

    One in 10 UK consumers have used mobile payments, survey reveals

    January 16th, 2017

    More than one in 10 (11%) of UK consumers have made an in-store mobile payment and do so occasionally, with 2% doing so “wherever possible”, research from price comparison service uSwitch reveals. 6% of Britons… More

    Biometric smartphones double in a year

    January 10th, 2017

    The number of smartphone models incorporating biometric technology has more than doubled in the last year, a report by Acuity Market Intelligence says. Some 87 smartphone vendors introduced 346 biometric smartphones in the past year, bringing the total number introduced since 2013 to 549, more than double the 200 models Acuity reported a year ago. Nearly one billion biometric smartphones are currently in use, Acuity adds, representing 40% of the global smartphone market.

    62% of US consumers own IoT device

    December 16th, 2016

    A study by the Interactive Advertising Bureau (IAB) shows nearly two-thirds (62%) of American consumers own at least one Internet of Things (IoT) connected device, while 65% of them say they are willing to receive ads on IoT screens. The Internet of Things study found most popularly owned IoT devices are connected/smart TVs and streaming devices (47%), followed by wearable health trackers (24%) and internet-enabled home control devices (17%).

    46bn IoT devices by 2021 as sensor market surges, research says

    December 14th, 2016

    The number of connected Internet of Things (IoT) devices and sensors will reach more than 46bn by the year 2021, a 200% increase from 2016, with the global sensors market generating revenues of US$162.36bn on… More

    Graphene NFC antennas pave way for cheaper, stronger connected wearables

    December 5th, 2016

    Fully flexible NFC antennas made from graphene could match the performance of conventional metallic antennas, making connected wearable devices cheaper and more energy-efficient, a consortium backed by the European Commission says. Researchers from the Graphene… More

    600m mobile devices to include biometrics by 2021

    December 2nd, 2016

    More than 600m mobile devices worldwide will include biometric authentication within the next five years, up from 190m in 2016, with demand for methods that involve less hardware raising the profile of solutions such as… More

    In-store mobile payments take 0.6% Black Friday share

    November 30th, 2016

    In-store mobile payments accounted for 0.6% of transactions made on Black Friday in the US, research released by payment technologies provider Cayan reveals. California recorded the highest use of mobile payments with 1%, while Wyoming recorded the lowest with 0.05%. EMV cards represented 55% of all Black Friday transactions, while magnetic stripe cards took a 34% share.

    Growth in millennials’ mobile commerce use

    November 29th, 2016

    Eighty-eight percent of US millennials are conducting transactions from their mobile device with 15% doing so multiple times a day, research from mobile capture and identity verification firm Mitek shows. Nearly half of older millennials have made a decision on where to spend money or switched companies based upon the mobile experience, the survey of more than 3,000 people aged between 18 and 34 in the US, Canada and the UK adds.

    Mobile retail commerce to reach US$1,120bn by 2020

    November 29th, 2016

    The value of global mobile retail commerce is set to reach US$1,120bn by 2020, up from US$415bn in 2016, a white paper released by Aite Group predicts. Tracing the growth and uptake of digital wallet services across the mobile and e-commerce sector, the research states that the global online commerce market will grow to US$7,114bn overall by 2020. “Successful digital wallet providers will be those that offer consumers ease of use, peace of mind (regarding security), and the ability to transact anytime and anywhere,” says Aite Group senior analyst Ron van Wezel.

    Visa warns of ‘serious disruption’ to online payments from EBA proposal

    November 22nd, 2016

    Visa is warning a proposal from the European Banking Authority (EBA) requiring every online transaction over €10 (US$10.61) to have additional authentication steps at checkout will “seriously disrupt online shopping and cause inconvenience for consumers”…. More

    Apple Pay advertising sparks strong rise in contactless payments at vending machines

    November 21st, 2016

    Digital advertising promoting the availability of Apple Pay at unattended vending machines has resulted in a 36.5% increase in overall sales for cashless vending machine technology provider USA Technologies (USAT) as well as a 135.2%… More

    16m NFC-ready POS terminals worldwide in 2016

    November 16th, 2016

    Annual shipments of NFC-ready POS terminals are anticipated to reach an estimated 16.1m units worldwide this year, Berg Insight reveals, with more than 90% of new units shipped across Europe and North America supporting the… More

    Global NFC market to reach US$47.43bn

    November 14th, 2016

    The global NFC market is expected to reach US$47.43bn by 2024, according to a new report by Grand View Research. The industry is poised for “unprecedented growth”, it says, with Asia Pacific expected to remain the key revenue generating region, accounting for over 20% share in 2015. NFC tags and readers are expected to portray highest growth over the forecast period, the report adds, due to the high demand for mobile payments and access control.

    China’s mobile commerce lead over US revealed in IAB report

    November 11th, 2016

    China is leading the US when it comes to mobile commerce, with nearly twice as many Chinese consumers making a mobile purchase over the previous 12 months than their American counterparts, a study by the… More

    Apple Pay ranks fifth in online payments survey

    November 10th, 2016

    Apple Pay now has a 0.25% share of payments on the top 10,000 websites, analytics firm SimilarTech reveals, ranking in fifth place behind PayPal with a 2.36% lead, followed by the PayPal Subscribe Button (0.98%), Stripe (0.35%) and Braintree (0.32%). Amazon Payments comes in eighth place with 0.07%. Among the top 100,000 websites, Apple Pay remains in fifth place with a 0.11% share of the number of overall payments. It launched on the web in September 2016.

    Half of European cards contactless by 2021

    November 10th, 2016

    Half of all European cards will be contactless by 2021 and the volume of contactless payments will rise more than six-fold between 2015 and 2021 to almost 25bn — equivalent to 22% of all payments on European cards — RBR reveals. At the end of 2015, there were 346m contactless cards in the region, up 41% from a year before, with the use of contactless card payments increasing three-fold to 3.7bn, equivalent to 5% of all card payments.

    US consumers’ use of in-store mobile payments set to soar

    November 10th, 2016

    The value of mobile payment transactions made in the US is expected to rise 183.3% this year to US$27.67bn, more than doubling next year and reaching US$314.13bn by the year 2020, research released by eMarketer… More

    European millennials demand higher standards for mobile payments services

    November 8th, 2016

    One fifth of German millennials (21%), more than a third of Dutch millennials (36%) and Italian millennials (37%) and a quarter of UK millennials (25%) are now making mobile payments in-store, online and in-app, research… More

    UK consumers say mobile payments are ‘life changing’

    November 4th, 2016

    More than one third of UK consumers (37%) describe mobile payments as “life changing” while 57% say the same thing for contactless transactions, research by UK bank Barclays reveals. “Shoppers are more likely to visit a store kitted out with virtual reality (57%), smart fitting rooms (57%) or augmented reality (52%),” the research also reveals.

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