How is mobile payment growing? And how did it impact us?

        The use of mobile phones across the world is increasing dramatically, and in 2021, the global use of mobile phones is greater than the world’s population. For this reason, it is not a surprise to us to see that mobile transactions are growing rapidly, and by 2025, mobile usage is expected to double.

What is a mobile transaction or payment?

        Mobile transactions or payments, also known as m-Commerce, are electronic transactions. Unlike in e-commerce, transactions are made on mobile phones, not computers. And with familiarity and convenience, we all carry our mobile phones all the time. It has made it easy to make transactions via mobile phones and is rapidly increasing and spreading around the world.

There are 3 main types of mobile transactions or payments:

1. Mobile Shopping

          Mobile Shopping is an eCommerce marketplace that is tailored specifically for use via mobile phones or shopping. or even the website is adapted to be mobile-friendly. Not even social media platforms that have added shopping features, such as Facebook’s Market Place or Tiktok’s shop.

2. Mobile Banking

          Mobile Banking has been transformed into an application for ease of use and access to banking services without having to go to a bank.

3. Mobile Payments or e-Wallet

        Mobile payments, or e-Wallets, are wallets that are in the form of applications, including contactless payments, money transfers, or an application that can pay for goods or services.

           In other words, mobile transactions are a part of e-commerce that allows us to buy and sell products almost anywhere and anytime.

Market share for mobile transactions or payments.

        from global e-commerce markets, up to 65% of eCommerce market sales are via phone transactions. Asia is the No. 1 across seven continents, at 79.7%.


% Of total retail e-commerce sales



The Middle East and Africa


Southeast Asia


Latin America


Western Europe


Central and Eastern Europe


North America


        Why Asia is the No. 1 Mobile Transaction VisualCapitalist It revealed that part of the reason may be that it is a continent with a low average population and tech-savvy. People aged 19-24 make up about 19% of the population.

         along with Asia’s high wealth and digital competitiveness. Especially in China, it’s a very well explained answer to why m-commerce has become popular so fast.


        Although m-Commerce, or mobile transactions, appears to be similar in each region. But in the next 3 years, global growth is expected to increase to $2.7 trillion, or 34% annually.

Advantages - Disadvantages of the mobile transaction or payment.

        Of course, due to the growing popularity of m-Commerce or mobile transactions. There are several positive impacts, along with many challenges that arise.

         The main positive effect is the convenience of mobile shopping, which allows consumers access to on-demand mobile shopping anytime and anywhere.

        It also helps create a seamless shopping experience. For example, e-Wallet payment, where we don’t need to waste time filling out debit or credit card information because, with just one click, you can easily pay for products or services.

        However, the rapid growth also means that businesses need to consider the need to optimize both people and devices to support mobile transactions. At the same time, innovations in the m-Commerce landscape are constantly evolving. This means that companies It is necessary to keep up in order not to fall behind the rapidly changing trends.

Source : visualcapitalist