What's New in Payments

Juniper forecasts mPOS transaction market

mPOS transaction values to exceed $1.9tn by 2024 — Juniper Research — “Juniper Research forecasts that mPOS (Mobile Points of Sale) transaction values will exceed US$1.9tn by 2024, up from $850bn in 2019. This growth will be driven by service adoption from new business users, including pop-up stores and street vendors, for whom the acceptance of card payments was previously inaccessible.”


Transit Ticketing Today

First Group reports on contactless and mobile ticketing adoption on UK bus services

Bus passengers turning to contactless in record numbers, says First Group — Yahoo! Finance — “More bus passengers paid with contactless and mobile apps rather than cash on First Group’s local bus routes for the first time in its history, the company has revealed. According to bosses, 43% of payments were made by cash, with 45% made through non-cash methods, in the latest push towards a cashless society. The remainder came from ticket sales via third parties.”


What's New in Payments

Survey finds US consumers would switch to mobile payments to save money

Ibotta Holiday Shopping and Mobile Payments Study — Ibotta — “Of the 61% of survey respondents who have used their phones to make an in-store purchase, 63% are motivated by payment methods that offer rewards, rebates and cash back, while 55% would be inclined to adopt mobile payments if the solutions saved them money… More than half (52%) of these shoppers say they feel overwhelmed by the large number of mobile payments and rewards programmes.”


Transit Ticketing Today

MTA to expand Omny open loop ticketing to all New York bus services and subway stations

Hand with nfc contactless smartphone over ticket reader

New York’s Omny contactless fare system is to undergo “a blitz phase of installations that will bring the popular new contactless fare payment system to all 472 stations as well as all MTA bus routes by the end of next year,” the city’s Metropolitan Transportation Authority (MTA) has announced... More











Survey: Merchants are winning the US mobile wallet adoption battle

Merchants winning the battle for mobile wallet supremacy — Javelin Strategy & Research — “In the rush to market, the main wallet value proposition, paying at the POS, wasn’t particularly compelling. In reality, loyalty and rewards will drive adoption, something merchants are doing particularly well,” said Krista Tedder, director of payments at Javelin Strategy & Research.”


What's New in Payments

Three in ten iPhone owners now use Apple Pay

Apple Pay increasingly central to iPhone — Loup Ventures — “We estimate that Apple Pay now has over 252 million users, which equates to 31% of the active iPhone base… Adoption of Apple Pay continues to accelerate exponentially overseas compared to the US, with 85% of users being international vs 15% in the US… With the continued expansion into new markets and new partnerships with banks, we expect transaction growth of 200% over the next 12 months.”


What's New in Payments

Gaming hardware maker Razer signs up 300,000 mobile payments users in 48 hours

Razer Pay gains 300,000 users in Malaysia within 48 hours — Razer — “Within 48 hours from the launch of Razer Pay on 4 July 2018, over 300,000 users in Malaysia downloaded and signed up for the Razer e-wallet app designed for youth and millennials… Also within the same 48 hours, over 11,000 transactions were made by first-time Razer Pay users at Berjaya Group stores (such as 7-Eleven and Starbucks).”


What's New in Payments

Apple Pay boss explains how it promotes adoption in the US

This woman is fattening the Apple Pay wallet — Fast Company — “We essentially put on an Apple Pay street fair. Local merchants who accept Apple Pay present an offer — maybe a dollar off your ice cream. We bring in food trucks and [feature] fun activities… We’ve also done event-type marketing at music festivals. Last year at BottleRock [a music and wine festival in Napa Valley], we worked with the event organizers to create Apple Pay-only lines. When you go to a concert, the last thing you want is to stand in line to pay for your beer.”




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