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Kuwait International Bank launches mobile payment in Middle East

Kuwait International Bank launches mobile payment in Middle East

Adyen announced findings from its inaugural Global Mobile Payments Index – taken from over 10 months of payments analysis – showing that worldwide mobile payments transactions on its platform have increased by 75%, with the total percentage of mobile transactions increasing from 8.2% in June 2012 to more than 13.8% in April 2013. The Index also found that Europe leads the world with 15.3% of all transactions made using a mobile device, followed by Asia (12.4%) and North America (11.2%).

iPad Replaces iPhone as Primary Mobile Device for Shopping

The Index – to be published quarterly – found that tablet devices (both iPad and Android) saw a combined 5% increase in mobile transactions over the past 10 months (from 48% to 53%).

With the exception of North America, where 58% of all mobile transactions are carried out using a smartphone, the iPad continues to be the dominant platform for mobile transactions around the world. The device now accounts for 6.6% of total worldwide transactions through April 2013 (up from 3.6% in June 2012) for a total 10-month growth of nearly 83%. iPhone users accounted for 4.4% of total transactions, up from 3.1% in June 2012 (+42% growth). Transactions from Android phones nearly doubled from 1.1% to 2%, while use of Android tablets more than doubled from 0.3% to 0.7% of total transactions.

Mobile Market Share by Sector

Adyen’s data revealed mobile’s penetration into various sectors that are traditionally dominated by PC transactions:

·         Travel: Mobile penetration currently stands at 20%, with transactions split equally between mobile and tablet devices. Adyen notes that the travel sector currently holds the highest mobile transaction percentage of any sector. The travel sector has been quick to embrace mobile applications and services that enable shoppers to transact on-the-go.

·         Retail: Consumers use their mobile devices for 15% of all retail purchases. Tablets edge out smartphones (10% and 5% respectively). Adyen notes that the retail sector has experienced perhaps the biggest impact from so-called “sofa shopping”, with shoppers transacting on mobile devices while at home. Adyen strongly suggests that retailers develop specific applications or responsive sites for tablets, as evidence shows it leads to increased revenue.

·         Ticketing Services: Mobile accounts for nearly 15% of all ticketing purchases, including concerts, movies, sports and theatrical events. Of that 15%, smartphones comprise 9% of the transactions with tablets accounting for the remainder. Adyen notes that this is a category that has been driven by the attraction of purchased products/services instantly being delivered to mobile devices.

·         Digital Goods: Mobile also accounts for 15% of digital content purchases with includes books, movies, music, software, and services. Smartphones still edge out tablets 8% to 7% respectively. 

·         Gaming: With desktop computers providing a richer gaming experience, mobile gaming accounted for only 9% of transactions. Smartphones, however, continue to be the platform of choice, representing 7% of mobile gaming transactions. Adyen notes that developments such as in-sports betting have streamlined the process for gamers, and driven sales volumes.

“We are delighted to announce findings from our inaugural Adyen Global Mobile Payments Index. Our analysis of the phenomenal growth of mobile payments in this report can be broken down both geographically, and into five distinct merchant categories: travel, retail, ticketing, digital content and gaming,” explains Roelant Prins, CCO, Adyen.

“The report points to an overwhelming consumer appetite for transacting on mobile devices, in particular on tablets such as the iPad, and merchants that have been listening. Mobile transactions now account for 14% of all transactions we process globally, and our analysis suggests that this will continue to rise.”

The post Kuwait International Bank launches mobile payment in Middle East appeared first on Payments Cards & Mobile.

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