Did you know the estimated global mobile payment market is to hit $620 Billion in 2016 and will reach $1,080 Billion by 2019. Check out our infographic on Global Mobile Payment Industry for latest mobile payment statistics and trends including incentive for non-users to start making mobile payments, common barriers to mobile wallet usage, usage patterns by transaction type for mobile payments and more.
Infographic by GO Globe ERP Egypt
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Estimated Global mobile payment market to hit $620bn in 2016
Year | Estimated Revenue ( in Billions USD) |
2015 | 450 |
2016 | 620 |
2017 | 780 |
2018 | 930 |
2019 | 1,080 |
Estimated number of Mobile money services – 271
By Region | Estimated Number of Mobile Money Services |
Sub-Saharan & Africa | 145 |
South Asia | 45 |
Latin America & Caribbean | 30 |
East Asia & Pacific | 28 |
Middle East & North Africa | 16 |
Europe & Central Asia | 7 |
79% of mobile payment users would make more mobile payments if offered discount pricing or coupons based on past purchases
Incentive for non-users to start making mobile payments
Incentives | %age |
Discount pricing / coupons | 54% |
Special offer on reward points | 53% |
Improve your shopping experience | 53% |
Able to scan product and present information about product | 49% |
Tracks spending habits | 48% |
Valued customer treatment | 48% |
Eliminating the requirement for check out | 47% |
Receive loyalty offers | 46% |
Receive notification for upcoming produce releases at store | 35% |
Common Barriers to Mobile Wallet Usage
Barriers | %age |
Worried about security | 62% |
Don’t want to pay any fees | 40% |
Don’t want store to have mobile wallet info | 26% |
Not convenient | 19% |
No single payment system across merchants | 15% |
Credit cards have better rewards | 14% |
Not available at stores of choice | 9% |
Usage Patterns by Transaction Type for Mobile Payments
Usage | %age |
Quick service Food/Drinks | 40% |
Grocery Store | 39% |
Convenience Store | 34% |
Full-Service Restaurant | 33% |
Large Retailer | 31% |
Parking | 29% |
Household Bills | 29% |
Taxi Services | 28% |
Telecom Services | 27% |