US Proximity Mobile Payments 2022
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What's new today:
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UK consumers shun physical wallets in favor of contactless and mobile payments.
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More than three-quarters (77%) of consumers in the UK have swapped their physical wallets for mobile payments, according to Marqeta research.
Behaviors spurred by the pandemic seem to have stuck, winning over users with speed and ease. More consumers will opt for mobile wallets as cash use declines and digital payments become more popular.
To win new customers, payment providers should emphasize the ease and simplicity of mobile payments. They also need to be innovative to tap customers who are open to embracing new technology like crypto payments.
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TODAY'S RESEARCH HIGHLIGHTS
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Where US bank tech spending is headed as economic uncertainty looms
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We expect US banks’ investment in technology to increase 10.6% year over year in 2022, faster than in any previous year—despite the looming threat of a recession and financial market turmoil, which will compound internal and external pressure on banks to curtail their budgets.
In the past, when the economy constricted, firms responded with cost-cutting measures. But this may not be the best strategy now.
Read More →
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REPORT OF THE DAY
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US Proximity Mobile Payments 2022
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In this report, we evaluate the key factors driving US proximity mobile payment user and spending growth, discuss best practices providers can embrace to capture this growth, identify the leading wallets in the space, and showcase their market and competitive positioning.
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Get the full report →
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What to Read Today
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