Research and Reports

How to navigate the mobile payment journey


August 05, 2019

Smartphones have become an indispensable part of the modern consumer’s daily life. And with mobile payment technology like Near Field Communication (NFC) coming standard on most high-end models, we are face-to-face with a new era of mobile shopping. Join us as we take a closer look at the mobile payment journey.

The major players

Which “Pay” will come out on top? While Apple Pay and Android Pay enjoy a high amount of consumer familiarity, Walmart Pay and Google Wallet aren’t lagging far behind. As the mobile payments industry evolves, all mobile players are pushing the technology into mainstream use— and what’s good for one may well be good for all.

In addition to the Pays, the growth of mobile payments hinges on the expectancy of merchants, consumers, and card issuers to adopt the technology. Many consumers and merchants are already NFC-ready – the technology comes built into most mobile devices and updated POS terminals capable of making EMV transactions. But it’s principally up to issuers to decide whether or not their cards will support mobile wallets. The challenge seems to lie in all audiences finding the equal benefits of mobile payments as a preferred choice of transaction method.

The advantages

Mobile payments are equipped with several innate advantages, not the least of which are convenience and security. On average, mobile payments are 35 seconds faster at making transactions than traditional forms of payment—offering the advantage of speeding up the checkout process. And with features like fraud protection and data encryption, many mobile payment options are safer than traditional payment methods like credit and debit cards.

Mobile payments offer several other tangible benefits to merchants including the ability to:

  1. Offer an integrated experience for customer incentive and loyalty programs. Customers like being easily rewarded, and businesses prosper due to that increased loyalty.
  2. Accept card payments from nearly any location. Small businesses can easily accept credit and debit card payments with little setup time or hardware to buy.
  3. Track customer shopping trends and product inventory. Customer trending data available with most mobile payment technologies offers valuable insights into shopping and buying behavior.
  4. Reduce credit card fees. Some mobile payment companies charge less in fees per transaction than others, so it pays to shop around.

The mobile payment journey

To get an idea of what’s involved in the mobile payment journey, Worldpay surveyed 16,000 smartphone users in 10 countries [when was this survey, and which countries.  Should be included in a footnote]. We asked how they want to pay on their phone for retail, travel, digital content and gaming. We discovered what is most important to mobile shoppers, what would make them buy more, and what would stop them in their tracks. The gist: smartphone users think payments first.

The first of our three reports lays out the best practices and tips for optimizing your mobile payment experience. With direct feedback from consumers in 10 markets, we look at global trends and simple ways to streamline your mCommerce experience.

Visit our microsite to access this report (and others) across travel, retail, gambling and digital Content. In this report you’ll learn:

  • The key stages of the mobile payment journey
  • Insights to optimise the payment experience
  • Tips to improve mobile conversion
  • And more


Worldpay Mobile Payment Journey

Today's consumers think mobile first, do you?

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Is now the time?

The shift to mobile payments is already happening, and consumers are moving with it. Is it the right time to invest in mobile card processing technology? Only you can answer that question for your business. But it is a great time to start capturing customers and growing your sales volume using this innovative payments technology at the point of sale. Talk with your payments provider to learn more about mobile payment options for your business.