Digital coupon redemptions to surpass $90bn by 2022 — Juniper Research — “Juniper has quantified the volume of chatbot coupons as 25m this year, with this set to reach 1.1bn by 2022. The technology will enable greater personalisation of offers; particularly through use via social media, and at a fraction of the cost of using human operatives, and will aid in driving commerce transactions both online and in-store… Mobile will account for nearly 80% of all coupon redemptions by 2022.”
Forecast
ABI: 160m cards with embedded fingerprint sensors to be shipped by 2022
Biometric payment cards to boost banking industry security — ABI Research — “Fingerprint embedded payment cards will enjoy an impressive growth over the next years reaching 160 million shipments by 2022 with a five-year CAGR standing at approximately 400%. While the Middle East, Africa and North America will be among the first regions geographically in which higher shipments are expected during 2018, forecasts indicate that Europe and Asia Pacific will have a larger penetration rate over the coming years.”
eMarketer raises mobile payments forecast for China
eMarketer projects surge in mobile payments in China — eMarketer — “eMarketer has raised its projections by more than 86% for 2017, and now expects 461.4 million people in the country to use a phone to pay at the POS… By 2021, 79.3% of smartphone users will be tapping, scanning and swiping at the POS. By comparison, the US will have 31% of users doing so, and that figure will be 23% in Germany.”
China and India to drive growth in digital transactions
Digital payments volumes continue to rise globally as new payments ecosystem emerges — Capgemini — “Global digital payments volumes are predicted to increase by an average 10.9% through to 2020, reaching nearly 726bn transactions, according to the World Payments Report 2017… Volumes generated by emerging economies will grow by 19.6%, or three-times the rate of mature economies. Emerging Asia, led by China and India, is projected to grow 30.9%.”
eMarketer releases latest estimates for US proximity mobile payments
eMarketer releases latest estimates for US proximity mobile payments — eMarketer — “eMarketer estimates the value of US proximity mobile payment transactions will total US$49.29 billion in 2017, up 78.1% from last year… The average annual spend per proximity mobile payment user in the US will reach US$1,026 in 2017, surpassing US$1,000 for the first time. That figure will continue to grow through 2021, when it will reach US$2,646.”
Contactless to account for more than one in two POS transactions globally by 2022
Contactless to account for more than one in two POS transactions globally by 2022 — Juniper Research — “A new study from Juniper Research has found more than half (53%) of global transactions at POS (point of sale) will be contactless within five years, compared to just 15% this year… Adoption in the US would rise sharply over the period, with contactless rising from less than 2% of transactions this year to 34% by 2022.”
RFID market to reach US$11.2bn in 2017
RFID market to reach US$11.2bn in 2017 — IDTechEx — “In total, IDTechEx expects that 18.2bn tags will be sold in 2017 versus 15.2bn in 2016. Most of that growth is from passive UHF (Rain) RFID labels. However, in 2017 UHF RFID tag sales by value will be 25% of the value of HF tag sales, mainly because HF tags where used for security (such as payments, access etc) have a higher price point versus the cheaper, usually disposable labels used for tagging things.”
Moneris study reveals 36% contactless payment increase in Canada
Moneris study reveals 36% contactless payment increase in Canada — MobileSyrup – “Moneris unveiled a 36.29% year-over-year gain, possibly due to Android Pay recently launching in Canada, and with little more than a year since Apple Pay’s full Canadian release… Within the next five and a half months Moneris predicts that 50% of all Canadian transactions will be contactless.”
P2P payment transactions to exceed $120 billion this year
P2P payment transactions to exceed $120 billion this year — eMarketer — “The transaction value of US mobile P2P payments will grow 55.0% this year to $120.38 billion. This figure is on pace to double by 2021. In 2017, 63.5 million US adults will use a P2P payment app at least once a month, equating to nearly one-third (32.6%) of smartphone users.”
What’s New in Payments 2: Special report sets out the latest thinking on the future of payments — free of charge
Payments experts from the European Banking Authority, Yandex, Vodafone, Orange, Dejamobile and Wirecard are among eight contributors to What’s New in Payments: Volume Two, a 76-page special report on the future of payments which is now available to download free of charge from the NFC World Knowledge Centre... More
Retailers to lose $71 billion in card-not-present fraud over the next five years
Retailers to lose $71 billion in card-not-present fraud over the next five years — Juniper Research — “The research predicted that three key battlegrounds would emerge in the fight against fraud in 2018. It cited machine learning as a key tool in identifying genuine users, while the shift to mobile ecommerce would rely on 3DS 2.0 and biometrics.”
Mobile payments for online purchases set to rise across the UK
Nearly six in 10 (58.6%) UK digital buyers aged 14 and over will make retail ecommerce purchases using their smartphone this year, research released by eMarketer predicts, with retail ecommerce sales through smartphones set to reach £16.42bn (US$22.16bn) in 2017... More
Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021
Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021 — IDC — “A new update to the International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide forecasts worldwide spending on the Internet of Things (IoT) to grow 16.7% year over year in 2017, reaching just over $800 billion. By 2021, global IoT spending is expected to total nearly $1.4 trillion.”
Digital India: UPI-based transactions grew more than 20 times since demonetization
Digital India: UPI-based transactions grew more than 20 times since demonetization — BGR — “UPI is now one of the most widely used mobile payments systems, and could reach 100 million users in a few years… UPI’s monthly transaction value shot up from $15 million before November 8 to $359 million by the end of the financial year (March 2017).”
Debit cards set to overtake cash in 2018, three years earlier than expected
Debit cards set to overtake cash in 2018, three years earlier than expected — Payments UK — “Rapid growth in the use of contactless cards means cash will be overtaken as Britain’s most frequently used payment method by the end of 2018… By 2018, when debit cards are forecast to overtake cash, 13.4 billion debit card payments are predicted, of which 4.6 billion (or one in three) are expected to be contactless.”
NFC secure element shipments to grow 12% in 2017
Some 560m NFC secure elements will be shipped worldwide in 2017, representing a 12% increase from 2016, smart security industry association Eurosmart reveals. A total of 495m NFC secure elements were shipped in 2015, which increased by 1% in 2016 to reach 500m units. More
Contactless retail payments to exceed $1 trillion in transaction value by 2019
Contactless retail payments to exceed $1 trillion in transaction value by 2019 — Juniper Research — “The global value of contactless transactions made via payment cards, mobile and wearables will reach $1.3 trillion by 2019, more than doubling from an estimated $590 billion in 2017 … contactless card levels will continue to dominate transaction values, accounting for 80% of total contactless transactions in 2019.”
European mobile payments will almost triple by 2021
European mobile payments will almost triple by 2021 — Forrester — “Forrester estimates that mobile payment transactions in Western Europe will grow from €52 billion in 2016 to €148 billion by 2021.”
Mobile biometric payment volumes to triple in 2017 to nearly 2bn
Mobile biometric payment volumes to triple in 2017 to nearly 2bn — Juniper Research — “The size of the opportunity has been boosted by the greater availability of fingerprint sensors — around 60% of smartphone models are expected to ship with such sensors this year, with many Chinese vendors incorporating them into mid-range models.”