SAN FRANCISCO–While mobile proximity payments are just beginning to take off, mobile online retail payments made through apps and mobile browsers form a much more mature market, according to a new analysis.
That analysis found that for every dollar spent through mobile proximity payments, $19 is spent through mobile browsers and apps, according to JAVELIN Strategy & Research’s Mobile Online Payments Forecast 2015. The company said that forecast includes rigorous market sizing of mobile online retail payments and also includes JAVELIN’s first forecast for mobile online retail payments through 2019.
According to JAVELIN, physical goods are the most popular products purchased through mobile phones, with 51% of mobile purchasers buying such goods.
“This is the only product type on mobile devices to grow significantly from 2013’s purchasing levels,” the report states. “The increase in physical-goods over digital-goods purchases is an indication of consumers’ growing comfort with the mobile phone as a buying channel. Other popular products purchased through mobile phones include games, music, and apps.
Daniel Van Dyke, research specialist with JAVELIN added, “As buy buttons and one-click shopping experiences gain in popularity, consumers are coming to expect low-friction checkout experiences. Limiting the steps involved in checkout is critical to meet consumer expectations.”