AMSTERDAM | Last week Adyen released their latest Global Mobile Payment Index - covering the period of July through September 2014 - showing that payments over mobile devices contributed 23.3% of the total online payments. Compared to Adyen's Index of the 2nd quarter a growth of over 8%.
Adyen and the Index
The Index captures data from all web-based transactions across Adyen payment platform generated by its customer base of more than 3,500 businesses. Adyen processed $14 billion through its global platform and has a current run rate of $20 billion annualized transaction value.
Adyen's Mobile Payment Index is created to track the rapid evolution of mobile as a payment channel and provide insight into mobile payment trends for different devices, market sectors and geographies. Important to recognise is that the Index does not track in-app mobile payments.
Europe maintains global lead - Asia experiences greatest growth
Comparing August 2013 to August 2014, Asia experienced the strongest mobile payments growth of all regions, increasing by 58%. Asia now has the second-highest proportion of mobile transactions among global regions, at 17% of total online payments.
Europe maintained its lead among global regions, with mobile payments averaging at 24% for the quarter. The UK leads the pack in Europe and globally, with mobile payments averaging 41% for Q3, followed by the Netherlands and Spain at 26%, France 18% and Germany 16%. North America remains steady, at 16.7%, and Latin America remains below other regions, at 6% for the quarter.
Digital goods versus physical goods - Smartphones vs Tablets
The Index examines vertical industries split by digital goods (such as games, services like club memberships, hotel reservations, and tickets) versus physical goods/retail (such as clothing, furniture, appliances, groceries).
The data shows that throughout Q3, people used smartphones more than tablets when purchasing digital goods, but the opposite is true with physical goods:
- Digital goods: desktop 72%; smartphone 20%; tablet 8%
- Physical goods: desktop 71%; smartphone 11%; tablet 18%
As shown in the Mobile Payment Index Infographic, smartphone transaction share continues on an upward gradient, while tablet transaction share appears to be levelling out. This correlates with a consumer trend toward smartphones with larger screen sizes.
Adapt to local mobile payment preferences
Roelant Prins, Chief Commercial Officer, Adyen, said, “The future belongs to businesses that will continue to adapt to local mobile payment preferences and streamline the checkout flow. Evernote, for example, saw an uplift of 10% after implementing a mobile-optimized checkout for Alipay, the most popular online payment method in China.”
Download Adyen's Mobile Payment Index
Click here to read the FULL Press Release by Adyen with interesting facts on the conversion rates (mobile versus desktop) and many more. Click here to download Adyen's Mobile Payments Index Q3 2014. Here you can also find the infographic.
Sourced from Press Release Adyen, October 23rd, 2014.