Digital Payments on the Rise

One of the best way to connect online and offline purchases is through data provided by payments. With an increase in digital payments omnichannel retail becomes an easier target.

Consumers seem to be adopting digital payment options at a staggering speed, all over the world. Here are the numbers:

China: Union Pay reports 260 million digital (internet and mobile) payment users

The 260 million internet and mobile payment users show a great appetite for change. The number of mobile payments itself increased by over 445% in the past year as numbers from Q2 show.

PayPal grows steadily and lists 169 million users

Across the globe e-payment leader PayPal shows a steady increase in the number of users and has big plans after its separation from eBay. Though the separation has been long debated, it seems it is for the best.

Number of PayPal Users [source]

51 million mobile payment users expected in Europe, 2016

Europe lags behind with just 51 million mobile payment users expected in 2016. However – that may change in the future as there is lots of potential. For example Iconiq, an investment fund described as “Zuck and friends” backed Dutch payments company Adyen this year.

Adyen alone is expected to process roughly $45 billion this year, so there is still hope for the old continent.

Meanwhile tech giants such as Apple or Google are engaging one another for the mobile payments market, a seemingly enchanted land in the world of future finance.