Mobile payments continue to accelerate post-pandemic

The Paypers, Nov 2021

Experts agree that the adoption of mobile payments will keep growing even as the pandemic dies down. Here’s what DOCOMO Digital’s Chief Commercial Officer, Jonathan Bennett, had to say about the subject in his latest article for the Paypers, the leading independent source of news in the global payment community.

The ongoing pandemic has caused a rise in both the volume and the value of mobile payments made via digital wallets. But even as restrictions eased, the new payment habits have stuck and are expected to rise further as mobile adoption also increases. And along with e-wallets, other mobile methods are predicted to catch on to a greater extent, such as direct carrier billing and QR codes.

Jonathan goes on to quote the research into the global digital and fintech ecosystem commissioned by the Discover Global Network. Some of its findings include the following:

  • Digital wallets are used in 27% of in-store spending, 41% of e-commerce and 46% of m-commerce transactions
  • Combined transaction values are expected to exceed USD 10 trillion by 2025
  • 57% of users complete three or more transactions each month on mobile
  • 25% of users make mobile payments seven or more times a month, making them the most frequently used digital payment service globally.

The use of digital wallets has been accompanied by the rise in global m-commerce transactions, the value of which is expected to grow at a compound annual growth rate (CAGR) of 17.1% in the years 2020-2025. Online purchases made on mobile devices are predicted to reach 64% (USD 5.2 trillion) by 2025, also presenting a steady growth (from 51% in 2020.)

All this data and more attest to the fact that habits formed as a result of the pandemic combined with a steady growth of mobile payments from before the pandemic will stay with us and only keep growing globally, with slight variations across different markets.

To read more about what this means for direct carrier billing, read the full article by Jonathan Bennet on the Paypers.