Mobile payments are growing, do you even have an app?
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Deloitte’s reports are worth reading and keeping track of. The recent
2015 Global Mobile Consumer Survey is a case in point;
covering 6 continents, 31 countries, and nearly 50,000 respondents, it’s data should allow some solid ground on mobile trends. We
recommend you follow the link provided to read it from the source; in the meantime, here are some highlights:
Smartphone adoption and use hasn’t yet reached saturation point, while wearables are still at the beginning of their adoption
cycle. Around 70% of respondents claim to have permanent access to smartphones: by the far the most accessible device. Checking
the smartphone within 3 hours of waking reaches almost 100% in the 18 to 24 segment.
Interestingly, the activity that correlates the most with smartphone usage is shopping: 92% report using it. While, presumably,
people check news, read books and exchange messages on public transport or while watching TV, the same is cannot be reasonably
argued for shopping. The good news for businesses that invested in mobile marketing is that people really do check shopping
information while shopping to help them make up their minds.
Deloitte reports a more than threefold increase in mobile payment adoption in comparison with the previous year. Combine with
the smartphone usage during shopping and you can safely project another jump in mPayments for the next year.
The top reason for not making an in-store payment is related to a perceived lack of security (50%), but it’s not clear if this
is not really a shorthand for "I don’t know but I have an intuition this is not safe". After all, the age group that is generally
more informed about smartphone technologies report significantly higher adoption rates for mobile payments: 31% of 18-to-24-year
olds and 36 % of 25-to-34-year olds.
When asked what would they potentially pay for with their mobile phone, those that report not using mobile payment options, list a
number of services, as can be seen on the next image. Paying for parking, gas, coffee or fast food are listed by almost a fifth of
their respondents. While this could reflect familiarity with mobile payments as presented in the media, the fact that 16% mention
groceries and 10% shopping in general should be seen as underdeveloped areas.
The mobile market is growing very fast and there is a lot of potential for business development provided you have a vision and... an
app! As in any competition, to have a chance of winning you do have to participate. Deploying a good, business-oriented app has
become a very easy process. At Alphatech, all it takes is 24h!