We all have been hearing about success stories of ‘Apple Pay’ which has given visibility to mobile payments technology. Last week, Samsung, world’s biggest Smartphone maker, bought LoopPay, signaling its intention to launch a Smartphone payments app. Google has recently partnered with AT&T, T-Mobile and Verizon and they will all preload Google’s app on certain mobile handsets. They’ve also decided to let Google take control of Softcard, mobile payment alliance to expand Google Wallet services to more points of sale with retailers. Google wishes to grow its position in the wider world of mobile-based transactions to compete with the likes of PayPal.
With all biggies entering this segment, we at Informate, wanted to understand the reach of ‘Mobile Payment’ genre on Android platform and how has it grown in last one year. In the US, it has grown by 29 % and India shows promising 84% year on year growth. In India usage is skewed towards male users whereas in the US, no gender skew is observed. Among other APAC countries, Malaysia and Thailand show encouraging growth rate ensuring ‘Mobile Payment’ is here to stay.