Mobile Payments to Take Spotlight in 2013

Posted by on Jan 4, 2013 in Mobile Payments | 2 Comments

Most industries have been impacted by the ever changing winds of technology. In 2012, perhaps no other industry felt this more than the payments and finance spaces. As consumers become more attached to their mobile devices and easy online access, they expect their financial tools and services to work the same. What this does is set the stage for an even greater opportunity for mobile payments in 2013. One that will surely define the payment landscape for the years to come.

The popular market research firm Econsultancy tagged Mobile Commerce as a top trend in 2012. In a previous post we mentioned research Google performed on how the consumer uses their mobile device as a personal shopping assistant. The results were as follows:

  • 79% use their smartphone to help with shopping, 70% while in the physical store
  • 54% of shoppers use their phone to find retailers
  • 44% of shoppers read product reviews via a mobile device before making a purchase
  • 74% of consumers stated that they made purchases due to experiences they had with the product through their phone (i.e. reviews, comments, social media)

With statistics like these, it’s clear that mobile is quickly entering the money transaction space (and will soon become a norm). This is perhaps why many researchers have dubbed 2013 as the year that mobile payments will take off. With nearly $200 billion processed in mobile payments worldwide in 2012, and some analysts projecting this value to reach $1 trillion by 2015, it’s fair to say that mobile payments have only just begun.

Mat Vogels

Mat Vogels

Hi there! I'm Mat, the social media manager here at PaySimple. I love all things tech and media, including in the areas of gadgets, startups, social media and marketing. Have any questions, or just want to chat? Feel free to reach out! You can find him on

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2 Comments

  1. Thomas Jakobson
    January 30, 2013

    Mobile devices and the internet are becoming increasingly important for shoppers. Business should not miss out on this opportunity.

  2. Suzy
    February 1, 2013

    I like your article, I couldn’t agree more that mobile payments have only just begun and are the future to come. With new technologies comes new security threats as well, it will be interesting to see how everything unveils itself in the next coming years.

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