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25 stats that tell you everything about the state of mobile payments

mobile payments mobile payments

Hand-picked data nuggets on NFC, mobile online commerce, biometrics, carrier billing and more.

For those of you that have been in a coma all week, Apple confirmed on monday the launch of Apple Pay in the UK next month.

The news should maintain the hype building around mobile payments. And hype is what it is, mostly.

The reality is that in-store mobile payments are a pin prick. Using the phone to buy something in a shop (rather than a card or cash) is something few of us do.


Before Apple Pay came along, the only service with any real traction (outside of Africa) was probably Starbucks’ barcode-based payment app (though honorable mention should go to efforts like Turkcell’s Yapi Credi).

But experts think the market is ready: the wallet could be the next object spun into the phone – like the camera, the map, the MP3 player and the alarm clock before it.

While the volume of mobile transactions in-store remains negligible, the volume of mobile online commerce just keeps on growing.

By some estimates, close to half of all online transactions are done on mobile or tablet.

Either way, the mobile payments space is full of possibility and promise.

Also projections.

Here are 25 worth checking out…

1. Mobile payments will reach $3 trillion in the next five years.

2. The number of mobile payment transactions is forecasted to be near 50 billion in 2015.

Source: Ystats

3. 185m European consumers are expected to use mobile payment apps this year.

4. Turkish users are the most advanced in mobile payments. 56 per cent of them have used a mobile payment app.

Source: ING

5. Brits will increase their spending via phones and tablets to £14.95 billion. That’s up 77.8 per cent year o year. PC based spending will rise just two per cent.

6. Put another way, Brits will spend £1 million on mobile devices every 35 minutes in 2015.

Source: RetailMeNot

7. 27 per cent of global online transactions are now on mobile devices

8. In Q1 2015, 44.4 per cent of online payments in the UK were made using a mobile device

Source: Adyen

9. Kenyans made 911m transactions using M-Pesa in 2015

Source: Central Bank of Kenya

10. By the end of the year, five per cent of the base of the world’s 650 NFC phones will be used at least once a month to make contactless in-store mobile payments.

Source: Deloitte

11. Mobile fintech firms have raised $1.1 billion across 58 financings in 2015. The first quarter alone marked a 238 per cent increase on the same quarter last year.

Source: CBInsights

12. In 2011, 57 per cent of people conducted ‘some form of mobile banking’. This year the number was 69 per cent.

Source: MEF

13. A third of the UK population believes mobile payments will overshadow credit and debit card payments by 2020

14. 19 per cent of Brits would consider paying for goods and services using voice authentication by 2020.

Source: Banking Moving Forward study

15. The mobile NFC payments market will hit $130bn by 2020

16. 254m users will make five NFC payments per month at around $9 per transaction

Source: Strategy Analytics

17. Just six per cent of iPhone 6 owners regularly use Apple Pay, and 85 per cent had never tried it – as of March 2015

Source: Pymnts

18. UK consumers will spend £1.2 billion overall on mobile devices by 2020, with the average shopper expecting to spend £27 each week, £10 more than is spent today.

Source: Visa

19. Starbucks has 16 million active users of its mobile app, making eight million mobile payments a week. That’s nearly 19 per cent of all transactions in US stores.

Source: Starbucks

20. There are 261 live deployments and 102 planned deployments of mobile money services in growth markets

Source: GSMA

21. 41,016 investors have put money into the 1,100 mobile payments companies registered on the Angelist site

Source: Angelist

22. 2.7m UK customers aged over 70 are now registered to use internet banking, and more than 600,000 of these people are 80+.

Source: BBVA

23. Content paid for via mobile carrier billing will provide operators with more than $14bn in revenues over the next five years.

Source: Juniper

24. Charge to bill revenues will increase to $24.7 billion in 2019 from the $14.5 billion in 2014.

Source: Ovum/Neomobile

25. US in-store mobile payments will go from $3.2bn in 2014 to $487bn in 2020.

Source: Aite Group