Consumer adoption of mobile payments (m-commerce) will triple in the next five year according to a UK report by credit card company Visa.
The report suggests that over £1.2 billion (AUD 2.3 billion) will be made per week via mobile devices by 2020. In the next five years, VISA predicts that 60 six in ten Britons (60 per cent) are expected to use their mobile devices for payments at least once a week.
The Mobile Money report surveyed over 12,000 mobile consumers in the UK, Finland, France, Germany, Poland, and Spain. The survey found that one in four Brits are expected to use their mobile phone to make payments on a daily basis by 2020, growing from the one in 12 who do so in 2015.
According to the survey, 43 per cent of shoppers said they would be interested in using a mobile wallet service and nearly half (47 per cent) are interested in using their smartphone to make everyday contactless payments.
Jeremy Nicholds, executive director for mobile, Visa Europe said: “Contactless and online commerce enhancements have been key in paving the way for the next generation of mobile payment technology. The environmental conditions are already in place to meet the demands and expectations for digital payments. It’s no longer a question of ‘if’ consumers will embrace this new way to pay – it’s when – and for us the next 12 months are when mobile payments become mainstream.”
The report also found that while apps and music are still the items purchased most frequently via mobile devices today, a growing number of consumers are already buying higher value items, with electronics (23 per cent) and clothes (22 per cent) among their top-five most purchased m-commerce items.
The main concerns about mobile payments, a third of respondents admitted that they didn’t know enough about the technology. As well as issues of privacy, fraud and security.
In this guest post, CTO of Wiise, Hamish Browne (pictured below), says tech’s new focus on privacy will lead to new rules and new ways of doing business for marketers… With the delicate balance between customer data and privacy in the spotlight like never before, the potential emergence of new standards and business models, is […]
Businesswoman, reality TV star, and social media personality Kim Kardashian has posted an ad for mysterious cryptocurrency Ethereum MAX [EMAX]. In a post on her Instagram story – where she has 228 million followers – Kardashian wrote: “Are you guys into crypto????” “This is not financial advice but sharing what my friends just told me […]
Great Southern Bank has launched a brand campaign this week, ‘Happily Clever After’, coinciding with its name change from Credit Union Australia, bringing to life its purpose of helping all Australians own their own home. The journey to changing from Credit Union to Great Southern Bank began back in 2020. When Australia’s largest customer-owned bank, […]
Nine has promoted Jo Clasby to the role of commercial director – publishing, where she will report to Nick Young. She was previously director of client partnerships – publishing. Her new role establishes her at the same level of seniority as Anthony Smyth, commercial director – radio. Smyth was promoted at the start of this […]
Hospitality giant Accor is shining a light on the joy of cities through its newest campaign, ‘Go ALL Out’, which launches in Australia and New Zealand today. The gateway to the ‘Go ALL Out’ campaign is ALL – Accor Live Limitless, a lifestyle loyalty program that integrates rewards, services and experiences throughout the Accor portfolio […]
Global affiliate and partner marketing firm Silverbean has secured new contracts with 13 major Australian brands and is now working to double the size of its Asia-Pacific team. Silverbean launched in Australia in 2019 and has seen steady growth through its work with retailers. Now, with 15 new brands joining the Silverbean portfolio, the agency […]
Tourism PR and marketing agency GTI has announced the appointment of longtime media executive Jenny Pham as its new general manager of marketing and strategy. Pham (pictured above) will lead the agency’s marketing division with responsibility for strategy, media and consumer marketing, while GTI founder and managing director Sarah Anderson remains as the day-to-day lead […]
Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]