Tackling the barriers to mobile payment
With nearly three out of four consumers globally (71%) having access to the internet via a smartphone, retailers would be justified in thinking that the time is finally right for people to pay for goods and services via their mobile phone. However, in our study1 of 17,000 consumers carried out in 17 countries, we identified that just 5% of transactions are made using a mobile device.
Although cash and cards are still used for the majority of transactions (46% and 45% respectively), there is enthusiasm to pay via mobile. In this...