Press Release - Mobile Online Payments: Disruption and Opportunity

The path isn’t clear, but the destination is—mobile online payments are the future of payments. Plan accordingly.

Boston, October 20, 2015 - Spurred on by the increased convenience of new payment alternatives and the explosion of apps and mobile websites that reduce the friction of mobile purchases, global mobile online purchases are rapidly growing. Aite Group’s latest report, Mobile Online Payments: Disruption and Opportunity, forecasts that when combined with e-commerce growth, global online volume will reach nearly US$6 trillion by 2020, with approximately 28% of that volume generated by mobile online transactions. Right now, mobile online payments are at the cusp of a growth curve that could eventually subsume any other payment path, but the complexity in this space obscures the way forward.

“There has never been a convergence of technology, economics, and demographics like this one,” says Thad Peterson, Aite Group Retail Banking & Payments senior analyst. “It’s going to be chaotic, with plenty of misdirection and mistakes. The only thing certain is that mobile online payments will change commerce for good.” 

 

About Aite Group

Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, securities & investments, and insurance, Aite Group’s analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.

 

Contact

Jennifer Molgano

​Marketing and PR Associate

+1.617.338.6050

pr@aitegroup.com

 

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