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.”


Pulse reports on US uptake of mobile debit card payments

2018 Debit Issuer Study finds improved issuer performance, lower fraud losses — Pulse — “86% of responding issuers support at least one mobile payment option, up from 74% in the previous study… Cardholder enrollment in mobile programs doubled in the last year. However, transactions initiated with a mobile wallet represented only 0.6% of in-store debit card purchases in 2017, compared to 0.3% in 2016.”


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.”



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



Survey finds money saving product recommendations will drive adoption of open banking

Brits cite money saving product recommendations as the biggest incentive to use open banking — Equifax — “Two fifths (40%) of Brits willing to share their bank transaction data with a new lender would do so if it provided them with product recommendations which save them money. Other motivations to share transaction data through open banking include the ability to easily compare products from different financial institutions (36%), being offered tailored incentives for switching to a new provider (34%), and a streamlined process when applying for mortgages (28%) and loans (25%).”


Contactless cards accounted for over half the 2.3bn payment chip cards shipped in 2017

Top smart payment card shipment figures 2017 released by Smart Payment Association — Smart Payment Association — “Data collected by the SPA from its members show 2.3bn payment chip cards were shipped globally in 2017… The 2017 global shipment figures also highlight the escalating popularity of ‘tap and go’ transactions, with contactless payment cards accounting for more than 50% of shipments in most regions, and over 70% in a growing number of territories.”



Chinese banks report strong growth in bank card usage

China has over 7bn bank cards — Xinhua — “China had issued 7.03bn bank cards by the end of 2017, meaning each Chinese person has about five cards on average… Last year, the number of transactions via bank cards rose 29.4% to 149bn, with a total of 735 trillion yuan (about US$113tn) swiped from bank cards. Consumption via bank cards accounted for 48.7% in China’s total retail sales of consumer goods.”



US consumers report growing dissatisfaction with mobile payments services

34% of those eligible are using mobile payments, but few would recommend them — Auriemma Consulting Group — “Problems at the point of sale can prevent even the most enthusiastic Pay users from developing the habit of paying with their mobile device. This, in turn, lessens the opportunity and likelihood for recommending the service. In fact, 42% of mobile payment users wouldn’t recommend the service, up 11 points compared to last year (31%).”


One in four Koreans now use their phone to make mobile payments

More than quarter of South Koreans use mobile payment services — The Korea Times — “The survey of 2,500 adults, conducted by the Bank of Korea (BOK) between September and October last year, showed that 26.1% of respondents had used a mobile device such as a smartphone or tablet computer for payment services in the previous six months… Online purchasing was the most frequently used service through mobile devices with 86.6%, followed by offline mobile settlement with 34.7% and mobile transportation payment with 21.6%.”



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.”


Study finds consumers are losing interest in digital-only banks

Banking sector continues to evolve as digital-only banks are losing appeal globally — RFi Group — “While consumers showed substantial interests in digital-only banks in previous studies, global appetite for digital-only providers fell from 74% in H1 last year to 63% in H2, and appetite for digital-only main bank has also dropped from 50% to 44%… The findings suggest that traditional banks which continue to ‘up their game’ in engaging consumers digitally will likely be the ones to benefit in the near future.”


One in ten young US adults have used Apple Pay to make an in-store payment

Mobile payments survey: Apple Pay leads Google Pay in usage and interest among Millennials and GenZ in 2018 — Dealspotr — “In-store, a surprising 11% of Millennials and 10% of GenZers have used Apple Pay to pay for items in the checkout line. Apple Pay (10%) was significantly more popular than rival payment platforms such as Google’s Android Pay (4%) and Samsung’s Samsung Pay (2%)… 15% of Millennials and 15% of Generation Z have used Apple Pay to pay when shopping online (vs 9% and 9% for Google Pay).”


Survey: India now has a higher percentage of citizens with a mobile wallet than China

Mobile wallet is gradually displacing cash in India, says GlobalData — GlobalData — “India is one of the top markets globally in terms of mobile wallet adoption with 55.4% survey respondents indicating that they have a mobile wallet and use it. India is followed by China and Denmark… Mobile wallet transactions grew manifold in last five years, rising from R24bn (US$370.6m) in 2013 to R955bn ($14.74bn) in 2017, and will surpass R1tn ($15.44bn) mark in early 2018.”


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