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Mobile payments volume doubles over the last 6 months

AMSTERDAM – Adyen, the fast-growing Dutch supplier of advanced solutions for online and mobile payments, has done research on the development of mobile transactions running through their platform. From September 2011 to March 2012, the total percentage of mobile payments within the Adyen modules has almost doubled from 3.7% to 6.2% and is still growing fast.

With the arrival of the Smartphone, iPads and the Android tablets it becomes much easier to purchase products and services online, while being on the road or at home without having to switch on the computer.

Maybe not surprisingly, most mobile purchases are made from an iPhone device, followed by the iPad. In September 2011 57% of all purchases were made from an iPhone, followed by 25% from an iPad and 14% from an Android device. Only 4% of the purchases were made from Blackberry devices. However, as Android devices have almost doubled in amount, the number of purchases made from Android devices is taking away payment share from the iPhone and have risen up to 20% in March 2012, leaving iPhone with a payment share of 50%.

It appears that conversion (the number of successful payments measured against the total amount of visitors) is 30% higher on mobile sites, including iPads than conversion in mobile apps. This can be explained by the fact that apps do not support internet banking methods such as iDeal, which leads to relatively high abandonment rates. This underlines the strong need for alternative payment methods such as iDeal in the Netherlands to adjust its payment methods to be suitable for apps. This will drive significantly more volumes in apps in countries where credit cards are not the prevalent payment method.

In terms of risks, due to the relatively small percentages of mobile payments, risks for merchants are not really an issue. Adyen pays a lot of attention to this with their fraud prevention tools and they have concluded that at this moment fraud on mobile is approximately 50% less than fraud in online payments.

 

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