September 14, 2015 at 12:30Recent trends in the world of payments
In this post we tried to analyze some trends of electronic payments that are happening in the world right now. Fintech is becoming one of the most dynamically developing industries, the volume of investments in financial and technological projects in 2014 alone amounted to almost $ 7 billion. Payment market giants are rapidly increasing the volume and quantity of transactions. For example, PayPal in 2014 made more than 3.5 billion transactions worth about $ 230 billion and increased its user base to 165 million people. But the main trend is payments from mobile devices. Did you know that almost 30% of global Internet payments are made from a smartphone or tablet?
Thanks to the report Adyen, a global payment technology company that recently raised $ 250 million in investments, is known for amazing insights:
For those who do not want to lose such a huge segment of customers and want to meet all the modern requirements of the market, we can offer PayMobile , it allows you to accept payments through any device that has the ability to enter card data and access the Internet. And for the iOS, Android and Windows Phone platforms, SDKs are developed for instant integration.
To understand mobile payments in more detail, as well as get acquainted with infographics that illustrate which payment methods prevail in different countries - please, under cat.
The share of devices in mobile payments,%
The index shows that smartphones are decisively leading in terms of transaction volume. In the second quarter, their share increased to 64.1% from 61.8% in the first quarter. This happened not only due to iPhones. Android smartphones continue to increase their share in mobile transactions, which has grown to 28.3%. The use of tablets, by contrast, decreased from 38.2% in the first quarter of 2015 to 35.9% in June.
This study is the first one we have seen that shows the average transaction value (ATV) by device type. Buyers from iPads spend an average of 104 € per transaction, which is significantly more than the average transaction for users on Android tablets - 84 €. Average transactions on smartphones repeat this trend: iPhones - 75 €, Android - 68 €.
This indicates that a business that considers itself a premium brand should be more focused on iOS audience, because she is more valuable.
Average transaction by device type, April — June 2015
19% of online payments for physical goods are made from tablets and only 12% from smartphones. The opposite is true for digital goods (games, services, bookings and tickets): 26% of online payments are made from smartphones, only 8% from tablets.
The share of mobile payments by type of product,%, April — June 2015
Speaking of regions, Europe leads in the second quarter (30.4%), followed by North America (26.7%) and Asia (21.4%). In all these regions, the share of mobile payments increased by about a percent compared to the previous quarter.
If we talk about individual countries, the UK gives a light to the whole world. In the second quarter of 2015, 44.8% of online payments in the UK were made from mobile devices, which is almost 2% higher than at the beginning of the year. If this trend continues, the UK will surpass the 50% mark in mobile transactions by mid-2016. One of the main growth drivers is the launch of Apple Pay in the UK market last quarter.
Note: The study is based on global mobile online payment data and does not contain information on mobile payments within applications.
In addition to the device from which the payment is made, the method by which money is transferred from the client’s pocket to your pocket is also important. The popularity of the payment method in the country depends on the preferences of users and the payment infrastructure. If you want to successfully trade on the Internet in different countries, it is beneficial to support as many local payment methods as possible. The Expert Market website has created a map of payment methods in different countries. This is what the map of Europe looks like:
It is noteworthy that in Germany the most popular online payment method is ELV (short for Elektronisches Lastschriftverfahren) - an electronic direct debit method supported by German banks. In the Netherlands, the most popular is also the local payment method - iDealIt is supported by almost all state banks in the country.
In the USA, everything is predictable:
If you need to organize the acceptance of payments on the site, feel free to contact . Write to us on any questions and subscribe to our corporate blog , there are still many interesting posts about payments and technologies.
Thanks to the report Adyen, a global payment technology company that recently raised $ 250 million in investments, is known for amazing insights:
- The share of online payments from mobile devices rose from 27.2% in the first quarter to 28.7% in the second. As much as 35.6% of all payments via mobile browsers is done with iPhones. This is 10.2% of all online payments in the world. At the beginning of the year, this value was at the level of 8.6%.
- IOS users spend on average more per transaction than Android users.
For those who do not want to lose such a huge segment of customers and want to meet all the modern requirements of the market, we can offer PayMobile , it allows you to accept payments through any device that has the ability to enter card data and access the Internet. And for the iOS, Android and Windows Phone platforms, SDKs are developed for instant integration.
To understand mobile payments in more detail, as well as get acquainted with infographics that illustrate which payment methods prevail in different countries - please, under cat.
The share of devices in mobile payments,%
The index shows that smartphones are decisively leading in terms of transaction volume. In the second quarter, their share increased to 64.1% from 61.8% in the first quarter. This happened not only due to iPhones. Android smartphones continue to increase their share in mobile transactions, which has grown to 28.3%. The use of tablets, by contrast, decreased from 38.2% in the first quarter of 2015 to 35.9% in June.
IOS users spend on average per transaction more than Android users
This study is the first one we have seen that shows the average transaction value (ATV) by device type. Buyers from iPads spend an average of 104 € per transaction, which is significantly more than the average transaction for users on Android tablets - 84 €. Average transactions on smartphones repeat this trend: iPhones - 75 €, Android - 68 €.
This indicates that a business that considers itself a premium brand should be more focused on iOS audience, because she is more valuable.
Average transaction by device type, April — June 2015
Tablets dominate physical goods, smartphones dominate digital
19% of online payments for physical goods are made from tablets and only 12% from smartphones. The opposite is true for digital goods (games, services, bookings and tickets): 26% of online payments are made from smartphones, only 8% from tablets.
The share of mobile payments by type of product,%, April — June 2015
Faster than anywhere, mobile payments are growing in Europe
Speaking of regions, Europe leads in the second quarter (30.4%), followed by North America (26.7%) and Asia (21.4%). In all these regions, the share of mobile payments increased by about a percent compared to the previous quarter.
If we talk about individual countries, the UK gives a light to the whole world. In the second quarter of 2015, 44.8% of online payments in the UK were made from mobile devices, which is almost 2% higher than at the beginning of the year. If this trend continues, the UK will surpass the 50% mark in mobile transactions by mid-2016. One of the main growth drivers is the launch of Apple Pay in the UK market last quarter.
Note: The study is based on global mobile online payment data and does not contain information on mobile payments within applications.
How to pay for purchases on the Internet in different countries
In addition to the device from which the payment is made, the method by which money is transferred from the client’s pocket to your pocket is also important. The popularity of the payment method in the country depends on the preferences of users and the payment infrastructure. If you want to successfully trade on the Internet in different countries, it is beneficial to support as many local payment methods as possible. The Expert Market website has created a map of payment methods in different countries. This is what the map of Europe looks like:
It is noteworthy that in Germany the most popular online payment method is ELV (short for Elektronisches Lastschriftverfahren) - an electronic direct debit method supported by German banks. In the Netherlands, the most popular is also the local payment method - iDealIt is supported by almost all state banks in the country.
In the USA, everything is predictable:
If you need to organize the acceptance of payments on the site, feel free to contact . Write to us on any questions and subscribe to our corporate blog , there are still many interesting posts about payments and technologies.