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March 05, 2018
São Paulo, 5 March 2018 – Brazilian consumers are ahead of the curve when it comes to their affinity for mobile apps, with 78% preferring this method to mobile browsers when shopping on their smartphone. This is ahead of the global average of 71%. Consumers are also seeking a more luxury, personalized service on their mobile, and many are willing to pay more for their purchase if it is accompanied by a first-class experience, according to new research conducted by Worldpay in partnership with Opinium Research.
Worldpay’s latest global report on mobile consumer spending, The Mobile Payment Journey, polled more than 16,000 people across 10 markets to discover their most recent mobile payment experience and spending habits, and to find the elusive secret of what makes a mobile shopper hit the pay button.
The research found that 53% of Brazilians would be happy to pay more for a product, service or trip if the user experience is better, 12 percentage points above the global average (41%). The rewards for brands that get the app experience right are tremendous.
The main reasons Brazilians choose apps over browsers are speed and simplicity. However, security concerns emerged as the number one reason behind smartphone basket abandonment, suggesting merchants need to do more to build consumer confidence. The survey indicates that two thirds of Brazilians (63%) would be happy to provide biometric data, such as fingerprint scanning or facial recognition if, in addition to an added layer of security, it sped up the payment process. Trust is also particularly important, with 76% of shoppers saying they would only consider downloading apps from brands that they know and trust, compared to 71% across the globe.
According to Juan D'Antiochia, Worldpay's General Manager for Latin America, the study confirms that Brazilian consumers are becoming increasingly demanding, while the market is starting to mature and offer more secure payment options. "Brazilians are increasingly prepared to make more high-end, expensive purchases on their mobiles, which is opening up new opportunities for the local market. This is a reason to celebrate, but there are still demands from consumers. "
"Security is a major concern and one of the top reasons for smartphone basket abandonment before payment. Stores should look for ways to implement the latest in biometric technology as a way to increase security and consumer´s trust in the brand.”
"The merchants that can deliver the right experience have much to gain, because consumers are starting to make bigger, more valuable purchases via their apps. Brands that offer the best mobile payment experience, fast and secure, will see fewer abandoned purchases, more app downloads and, consequently, more sales of goods and services." concluded Juan D'Antiochia.
About the data
The research was compiled in partnership with Opinium and interviewed interviewed 16,000 consumers who have purchased goods on their mobile in the last 3 months in Australia, Brazil, China, Germany, India, Japan, South Korea, the U.S. and UK. In Brazil, the study polled 1,510 consumers. Reports are available at: http://www.mobilepaymentjourney.worldpay.com
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global integrated omni-commerce. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider.
Worldpay processes over 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The company’s growth strategy includes expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B.
Worldpay, Inc. was formed in 2018 through the combination of the No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc. trades on the New York Stock Exchange as “WP” and the London Stock Exchange as “WPY.”
Visit us at www.worldpay.com
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