Two in five shoppers use smartphones to pay

New research has revealed that 18 percent of shoppers have used their smartphones to pay in a shop, reflecting an increase in ‘physical’ mobile transactions, as just two years ago the figure was just 8 percent.

The findings from global trade body Mobile Ecosystem Forum’s annual Mobile Money Report supported by Wirecard, reveals that Apple Pay is one of the main reasons for this upturn as it is now available in 13 countries and has helped to raise awareness of the mobile wallet.

The biggest impact is in China, where 38 percent of Chinese consumers have made an in-store mobile payment, nearly double the global average. This is due to mobile wallets such as Tencent/WeChat and Alipay, as users frequently make QR-code based payments with these products in physical stores.

While in-store mobile payment gathers momentum, mobile shopping on apps and sites has gone fully mainstream, with the report revealing that 78 percent of people had made a purchase by mobile in the previous six months, up 4 percent on the figure for 2014.

Rimma Perelmuter, chief executive at Mobile Ecosystem Forum added: “The adoption of mobile money continues to advance. In developed markets, mobile payments and banking are driving a revolution in convenience. In growth markets, they are giving millions of people access to financial services for the first time.

“It’s important that the industry builds on this momentum. The research shows we can still do more to improve payment flows, improve consumer trust in mobile money to allay privacy and security concerns. But overall, the news is good: mobile remains the key driver of online commerce.”