Welcome to our regular roundup of the best news and opinion on mobile payments.
Lessons from a mobile payments revolution – American Banker
The mobile payments explosion in China has not yet seriously affected banking in the US. It would be a mistake to dismiss it however – change is coming to the US FinServ marketplace, albeit slowly.
Travellers increasingly turn to digital payments over cash – Mobile Payments Today
Cash has traditionally been the payment method of choice when travelling abroad. But the popularity of digital and mobile payment options is accelerating, and whilst cash usage shows no sign of dying out yet for travellers, there is slow but steady transition.
Among emerging markets, China and India are leading the digital wallet revolution. E-wallets account for 58% of the mobile payment market in China – the highest percentage globally – compared to just 15 per cent in the US. Similarly the spread of smartphones in India has put the company on a similar trajectory. Could they show the way forward for the slower moving West?
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