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MEF, an international trade organization specializing in the mobile industry, has released the first study on global consumer trends in mobile payments. The report reveals the growing popularity of mobile payments in 13 countries. Mobile commerce is growing rapidly in the world's most renowned markets. Much of this growth comes from the growing number of people using smartphones and tablets to perform various activities in their daily lives.
15% of device users made mobile purchases in 2021
According to the study, about 15% of all device users in 2021 made mobile payments in one form or another from their smartphone or tablet. Most of these people made their purchases using the mobile wallet app. These applications often use NFC technology to transmit information over short distances. However, at the same time, mobile wallets that operate without the use of NFC technology are gaining more and more popularity due to the insufficient number of NFC-enabled devices on the market.
Mobile money users are becoming more important to businesses around the world
Mobile money users often spend more on individual purchases than others, MEF said in a report. The report notes that mobile payment users are 10% less likely to make low-cost purchases and 14% more likely to make average-value purchases than consumers. It is these consumers that become the target audience for companies seeking to conquer a mobile audience. Also, these users are more likely than others to participate in mobile innovative projects and launching technologies, such as QR codes.
A culture of “exclusively mobile” users emerges in developing countries
The report shows that a so-called mobile-only culture is emerging and gaining momentum in developing countries. These include people who are becoming increasingly dependent on their mobile devices and using services that are only available on mobile platforms. For example, mobile banking is becoming very popular and many consumers are already managing their finances from their mobile devices. Mobile banking is expected to become even more popular as many financial institutions begin to target more mobile consumers.
15% of device users made mobile purchases in 2021
According to the study, about 15% of all device users in 2021 made mobile payments in one form or another from their smartphone or tablet. Most of these people made their purchases using the mobile wallet app. These applications often use NFC technology to transmit information over short distances. However, at the same time, mobile wallets that operate without the use of NFC technology are gaining more and more popularity due to the insufficient number of NFC-enabled devices on the market.
Mobile money users are becoming more important to businesses around the world
Mobile money users often spend more on individual purchases than others, MEF said in a report. The report notes that mobile payment users are 10% less likely to make low-cost purchases and 14% more likely to make average-value purchases than consumers. It is these consumers that become the target audience for companies seeking to conquer a mobile audience. Also, these users are more likely than others to participate in mobile innovative projects and launching technologies, such as QR codes.
A culture of “exclusively mobile” users emerges in developing countries
The report shows that a so-called mobile-only culture is emerging and gaining momentum in developing countries. These include people who are becoming increasingly dependent on their mobile devices and using services that are only available on mobile platforms. For example, mobile banking is becoming very popular and many consumers are already managing their finances from their mobile devices. Mobile banking is expected to become even more popular as many financial institutions begin to target more mobile consumers.
