Mobile commerce continues to increase, with more than three-quarters of consumers making a purchase using their mobile device, and more than 60% using their mobile phone for banking. These numbers are both up from two years ago.
Gone are the days of needing to walk into a store to make a purchase. Today, shoppers only need to access their smartphones to make a purchase of anything, anywhere in the world. According to the annual Mobile Money Report released by the trade group, Mobile Ecosystem Forum, more than three-quarters of those surveyed (78%) made a purchase on their device in 2016.
Chinese consumers were the most active, with 88% of China’s citizens currently doing mobile transactions (compared to 80% in the US and only 66% in France). In addition, 38% of Chinese consumers use a mobile device to pay in-store – nearly double the global average (18%).