Around the world, many markets are slowly but surely starting to realize that mobile transactions are the future of payment platforms because of the ease, security, and convenience they provide to consumers and retailers alike. However, some places are more enthusiastic about adoption than others, and it seems that when it comes to using these platforms, no place is more eager than Asia.
It took longer than many experts might have expected, but it now seems as though smartphones have finally surpassed tablets as the No. 1 device on which mobile transactions are made, according to the latest Mobile Payments Index from Adyen. And because smartphones are becoming so commonplace all over the world, 34 percent of all purchases made in a web browser are now being done on a mobile device, up 4 percent from the end of the third quarter.
Asia is the driving force
Indeed, there are a number of mobile payment platforms that have quickly moved forward in the Asian market which aren’t even available in the U.S., and the three biggest seem to really be taking off, the report said. Moreover, there are similarly popular platforms in Europe, but those tend to see less growth (though they are still growing) and the popularity of each individual one seems to be a bit more regional.
“Mobile payments, both in app and browser-based, are driving the growth of ecommerce, and this trend is particularly noticeable by the acceleration in mobile payments for methods such as JCB and Alipay,” said Roelant Prins, the chief commerce officer for Adyen. “As mobile become the primary way for global shoppers to go online, and payment methods such as JCB see over half of online payments on mobile, the era of a mobile-first approach to payments is upon us.”
Meanwhile, though, it seems that while sales volume continues to rise for smartphones, consumers with tablets still tend to spend the most money per purchase, the report said. Those made on iPads average about $107, surpassing purchases made on standard desktop and laptop computers by a single dollar. In addition, purchases made on Android tablets averaged $86, those on iPhones averaged $83, and those on Android phones averaged $73.
This should highlight to retailers in the U.S., though, that nations that have done more to engender the use of mobile devices for purchases of any type are, in general, starting to see mobile purchases as the wave of the future. It therefore shouldn’t be long before tap-to-pay platforms are in widespread use both abroad and at home. Consequently, it may be important for merchants in the U.S. – and particularly smaller ones – to make sure they’re offering mobile payments as an option as soon as possible. That will help to establish them as early adopters among the growing number of consumers already using mobile purchasing platforms every day, as well as make them appear to be forerunners to consumers who have not yet adopted use of these transactions.Back To Blog