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Report: Mobile payments account for nearly 20% of transactions
Mobile payments are growing. New data out from AdYen shows that on a global scale mobile payments account for just over 19% of total transactions. Most mobile payments are made via smartphone in most of the major verticals, however, the average value of purchases is higher for payments made via tablet.
AdYen's data shows that while the volume of payments is higher for smartphones versus tablets but the average value is higher for tablets. For example, the average value for PC based transactions was $51 while smartphone transactions averaged $45; tablet transactions averaged $62 (Gaming vertical).
• Retail average values: $122 for tablets, $92 for PC and $90 for smartphones
• Ticketing: $63 for tablet, $59 for smartphones, $60 for PC
• Digital Goods were $35 for tablet, $34 for PC and $30 for smartphones
"Ease of payment is vital for merchants to keep up with the evolution of mobile devices and consumer behavior. Businesses are focusing on enhancing their payment interface over mobile channels to make it responsive, simple and clear for users," explained Roelant Prins, Chief Commerce Officer, Adyen. "That's why having access to data on transaction volume and value is highly useful for merchants looking to optimise the user experience across mobile channels. It's fascinating to look at a trend like tablets emerging as the leading device for more expensive purchases, and using this knowledge strategically to increase conversion rates."
Other interesting findings include:
• Mobile payments grew 55% from 2012 to 2013
• Transaction volume was highest for the travel, retail and ticketing verticals
• Travel is the only vertical in which the average value was higher on PC than mobile devices
Image via Shutterstock
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