IMF report finds digital currencies are gaining ground with central bankers

At least 15 central banks are serious about getting into digital currency — MIT Technology Review — “There are two main reasons for the trend, according to the report. First, new forms of digital money are ‘shrinking the role of cash’. Besides that, some central banks are interested in using the technology to reach the hundreds of millions of people who do not have a bank account or access to modern financial services. Finally, most central banks see the potential to reduce costs by replacing physical banknotes with digital ones.”




Survey finds Apple Pay is used for three in four US debit card mobile wallet transactions

Apple Pay makes up 77% of mobile payments among debit card users — Auriemma Consulting Group — “An Auriemma study of debit card issuers shows that Apple Pay makes up 77% of mobile wallet transactions. Samsung Pay and Google Pay, Apple Pay’s main competitors, make up 17% and 6% of transactions, respectively… While Apple Pay has the most market share, Samsung Pay users are the most engaged. In fact, the average Samsung Pay user makes 7.3 transactions each month, compared to 5.5 transactions for Apple Pay and Google Pay users.”



Survey: Merchants are winning the US mobile wallet adoption battle

Merchants winning the battle for mobile wallet supremacy — Javelin Strategy & Research — “In the rush to market, the main wallet value proposition, paying at the POS, wasn’t particularly compelling. In reality, loyalty and rewards will drive adoption, something merchants are doing particularly well,” said Krista Tedder, director of payments at Javelin Strategy & Research.”


Three in ten iPhone owners now use Apple Pay

Apple Pay increasingly central to iPhone — Loup Ventures — “We estimate that Apple Pay now has over 252 million users, which equates to 31% of the active iPhone base… Adoption of Apple Pay continues to accelerate exponentially overseas compared to the US, with 85% of users being international vs 15% in the US… With the continued expansion into new markets and new partnerships with banks, we expect transaction growth of 200% over the next 12 months.”


Shoppers prefer Apple Pay over Walmart Pay

Walmart Pay icon

Walmart shoppers with access to Apple Pay are more likely to choose to use it than the store’s own Walmart Pay app, a new study has found, but those who do choose the retailer’s own app spend more at Walmart each month than those who use Apple Pay... More


Eight in ten POS terminals to support NFC payments by 2022

Shipments of NFC-ready POS terminals reached 24.7m in 2017 — Berg Insight — “The attach rate for NFC was highest in EU28+2 and North America, where 90% and 88% respectively of the POS terminals shipped [in 2017] featured NFC. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China… More than 78% of the world’s POS terminals will be NFC-ready in 2022, up from 50% in 2017.”


Juniper predicts gains in market share for OEM Pays

Apple Pay accounts for 1 in 2 OEM Pay users globally, reaching 200 million by 2020 — Juniper Research — “The global number of mobile contactless users will exceed 760 million by 2020, up from an estimated 440 million in 2018… The combined market share of Apple, Samsung and Google will reach 60% of global mobile contactless users by 2023, up from an estimated 50% in 2018. Other OEM Pay users, including the likes of Huawei Pay, Xiaomi Pay, Fitbit Pay and Garmin Pay, will exceed 20 million by 2020.”


Eurosmart reports rise in smartphones with embedded secure elements

Eurosmart’s secure element shipment forecasts confirm a global market increase in all main market sectors — Eurosmart — “Trends for device manufacturers, mainly composed of high end smartphone manufacturers, became significant in 2017 with 400m embedded secure elements. The growth is important and equal to +21.2% compared with 2016 (330m of units) and 470m units are expected in 2018.”


Popularity of contactless payments pushes debit cards ahead of cash in the UK

Convenience of debit card payments puts cash in second place — UK Finance — “The popularity of contactless payments among UK consumers is a key driver of debit card growth. In total, across both debit and credit cards, the number of contactless payments increased by 97% during 2017 to 5.6bn. Almost two thirds (63%) of people in the UK now use contactless payments, and no age group or region falls below 50% usage.”



US consumers are making fewer online purchases on their mobile phones due to ‘cumbersome payment methods’

Forrester: Mobile shopping stalls as payment hinders growth — Mobile Marketer — “Cumbersome payment methods that require too many keystrokes at checkout are impeding the adoption of commerce on mobile, where conversion rates are about half that of desktop and laptop platforms… The percentage of online US sales made on mobile phones dipped from 43% in 2016 to 36% last year… During that same time, ecommerce grew by 14%.”




Microsoft researchers unveil NFC smart mat ‘sensing platform’

Project Zanzibar: Blurring the distinction between the digital and the physical worlds via tangible interaction in a portable implementation — Microsoft Research — “The Project Zanzibar mat combines capacitive sensing and near field communication (NFC) in a novel way, enabling multi-touch and hover gesture input to coexist with physical object manipulation and control. The Project Zanzibar research platform also introduces the power of portability in a tangible user interface because rather than provide its own display, it takes advantage of existing devices such as tablets. Roll it up, stow it and break it out at a picnic or on a train trip.”



Four in five Americans want to use one platform to manage all their finances

Digital is the new language of money: Americans predict payment apps will move to the top spot in their wallet and would like to manage their financial lives in one place — Koski Research — “Americans predict that apps will be the most common in-person payment type in five years… More than four in five Americans (84%) say they are interested in managing their money from one online central platform for deposits, spending, and saving.”


Juniper predicts 2.1bn mobile wallet users in 2019

PayPal leads mobile wallet rankings as users forecast to pass 2bn next year — Juniper Research — “Nearly 2.1 billion consumers worldwide will use a mobile wallet to make a payment or send money in 2019, up by nearly 30% on the 1.6 billion recorded at the end of 2017… The report also argued that while QR code-based in-store payments had seen quite astonishing levels of adoption in China, successful use cases in Europe and North America were likely to be limited to ‘closed loop’ wallets such as those deployed by Starbucks and Walmart.”


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