Different Mobile Payment Statistics And facts For the marketers of 2021

Presently with increased digitalization and with a greater reach of smartphones nowadays digital payment is quite popular. Researches say that in past 10 years digital payment is an important option in any business or work field. Stream after the pandemic digital payment acquires a more strong position. You can also go for our other solutions like Appointment Platform and E-tailoring Platform. 

WORLDWIDE MOBILE PAYMENT STATISTICS

• There is driving growth in digital payment or non-cash transactions. With the upcoming the of P2P payments and mobile consumer payment, Digital payment is growing at a faster rate. Even in Asia, Africa, and Latin America, this digital payment is quite popular. It allows efficient services to millions of people at the same time.
• Studies have found China comes to the leader in digital payment with 80% with above 80% of smartphone users. On the contrary, Denmark comes with the ranks second within usage rate 40 2% only. But in 2023 researchers estimate that these mobile payments have per Jude digital payment app reach UPTU 1.31 billion users.
• Presently these mobile payment apps are popular in supermarkets, stores, or restaurants. Studies show that 30% of the customers prefer to make payments through mobile apps.

GROWTH STATISTICS, JOURNEY TO 2021

With these digital payment services, you can easily receive, send and store money with minimum effort and maximum ease.

• The journey of these mobile apps starts in late back in 2018. Moreover, these apps also include both debit and credit cards as well as supports apps like Paypal. Furthermore, nearly 29% of the shopping apps in 2018 accepted these mobile payment apps. This is the drastic change from 2015 when it was only 24%. But in late 2018 these apps access Apple Pay, Visa, Pay Pal and Checkout, and so on.
• According to a study in 2018 one third of internet users have used digital payment services. The highest rate of digital payment is found in the Asia, Pacific region, China, Thailand, etc. Middle East, Africa, and North America are also noteworthy in the usage of digital payment app. But still, now the digital payment acid has not succeeded the online shopping apps.

ONLINE SHOPPING APPS

But these online shopping apps promote help to promote digital payment options. Presently throughout the world more chances a Putin a variety of mobile payment options. In addition to this these online shopping apps also offer inbuilt payment wallets for those apps. Furthermore, these apps these wallets come with lucrative offers and coupon codes, and gift codes.

GROWTH OF MOBILE APPS, DURING PANDEMIC 2020-2021

Due to the coronavirus pandemic, mobile payment has become popular. This is because of its contactless transactions. Moreover, this change took place throughout the world even in remote areas. But bigger cities and states or countries like the United States show much larger progress. In this pandemic situation records from the US say that 4 out of 10 persons have an interest to use mobile payments. This impressive figure matches South Corea. Besides this, these payment options are quite popular among younger groups of people.

MOBILE APPS IN UNITED STAES

In the United States, credit payment is more popular than debit ones. This analysis mainly depends on the number of debit or credit cards issued every year. Studies have found the number of credit cards is three times that of debit ones. However, this figure has undergone a change in 2020 and 2021 due to the pandemic.

Besides this researchers think that soon the debit cards will outnumber credit ones. Hence this indicates a serious change in consumers’ behavior. Therefore it will eventually change consumers’ mindset and their preferences. In the US the Apple Pay mainly depends on debit or credit cards. In United States Pay Pal is very popular.

PAYPAL

In 2020 the name Paypal itself occupies a large ground. Besides this comes its significance and importance. Studies show that number of PayPal active users is 400 million in 2021. Furthermore, the rapid growth of Paypal of 70 million users in 2020 will amaze you. This rapid change is significant and noteworthy in only 1 year. Hence PayPal is also known as peer-to-peer payment due to its high popularity. Moreover, studies also say that users mainly operate Paypal through their respective phones.

REASONS BEHIND THE GROWTH STATISTICS OF MOBILE PAYMENT APPS

• These mobile payment apps also offer cryptocurrency and bitcoin opportunities. Through these apps, you can buy and sell bitcoin.
• In addition to this, these mobile payment apps offer mobile wallets. These wallets are digital wallet that helps to store money. But you may think what’s the purpose of it. If you use mobile payment then you sometimes face difficulties while connecting to your bank. This stops the payment or slows the process. But with a mobile wallet with only an internet connection, you can send or receive money. Hence you do not have to face any difficulty rather it is super easy and comfortable.  
• Besides this mobile apps allow easy transfer of even huge amounts of money at any time. This is because of its bank access. Hence without stress, you can carry a large amount of money and there is no requirement for security.
• NFC includes QR code scan payment, PayPal, as well as physical stores.

The above points prove the efficiency of the mobile apps and hence their impressive growth graphs. Nearly every person in one way or other gets enjoys its benefits. Hence here lies the reason behind its impressive growth. You can also visit our website like Lytechx Digital Pvt Ltd, its the best web development Company in Jaipur. And you can also go for our other blogs like Benefits of Scheduling Your posts On Social Media.