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The pandemic accelerated investment in CX technology to meet rapidly changing needs. But as consumer priorities shift again amid high inflation, UK retailers need to understand which technologies are hitting the mark and which are not.

We expect 298.8 million people in Asia (excluding China) will use proximity mobile payments by the end of 2022, up from 269.7 million last year, per our forecasts. Earlier this month, Alpay+ introduced D-Store, a one-stop shop for brick-and-mortar merchants that want to bring their business online. Popular brands like Burger King have already adopted the solution.

Other behaviors US adults avoid include opening emails (47%), using mobile payment apps (42%), and shopping online (26%). Use this chart:. Assess the cybersecurity threats facing North American consumers. Understand consumer hesitation to clicking on ads or sharing personal information. More like this:. Will there be a federal privacy law?

The news: South Korean super app Kakao’s nationwide outage disrupted communication, prevented mobile payments from going through, and stranded passengers trying to use ride-sharing services, per The New York Times. The dangers of app consolidation: Kakao’s outage affected the  more than 90% of smartphones in the country that have installed the super app.

By simplifying UPI integration for smaller players, the system can reach more of the expected 176 million mobile payment users in India, per Insider Intelligence forecasts. Offline transactions can also aid financial inclusion; they can benefit users located in remote areas. UPI credit card linking will expand credit card use.

The contrasting global smartphone market: North America is caught in the thrall of the Apple and Google smartphone duopoly that is focused on handsets but extends across ecosystems including wearables, fitness, entertainment, and mobile payments.

It could eventually force Apple to open up its NFC capabilities to other mobile wallets, disrupting industry dynamics

This year will be a litmus test for trying new things. Payments incumbents that embrace change on their own terms will emerge stronger than before.

Interest in contactless payments spiked during the pandemic and continues to grow, which should drive users to mobile payment options: Over a quarter of US consumers now prefer using contact-free payment methods, per Paysafe. However, Walmart Pay’s exclusivity keeps it from becoming a larger wallet ecosystem.

They rely more on mobile devices than older millennials but have more mature financial lives than younger Gen Zers, giving key insights into digital payment behaviors

The number of proximity mobile payment users in Latin America is expected to hit 55.4 million in 2022, up from 50.3 million last year, per Insider Intelligence forecasts. Neobanks and deepening mobile penetration have made these digital payment methods more accessible to businesses and consumers.

This year’s figure is more than double that (up 121.7%), outperforming other digital commerce stars such as smartphone grocery apps (93.4% growth in users in the same timeframe), proximity mobile payments (70.5%), and QR codes (73.0%). (To be fair, the latter two started from a higher base.). Social and retail AR are complementary.

We look back at the year’s most disruptive Big Tech payment stories and how the Big Four have expanded in the space.

Venmo is the dominant P2P payment app in the US, with 52.2% of all P2P mobile payment users in 2022. Venmo’s social features and focus on sharing has created a loyal customer base that has cemented the app’s cultural status. Sixteen percent of US adults use Venmo as their primary digital wallet, per CivicScience.

Showing card account info takes away an important touchpoint for banks and puts Apple at the center of the relationship

We delve through PayPal’s Q3 earnings report to give you the main takeaways.

From tumbling valuations to the arrival of Big Tech firms, we run down the biggest BNPL developments of 2022.

Apple sells a lifestyle to affluent millennials and Gen Zers: We look at how its financial services offerings differ from any other traditional financial institution’s.

Here’s what Apple, Google, Amazon, and Twitter are doing to build out a space in financial services—and how Big Tech’s expansion into banking will impact the industry.

Apple’s headline-grabbing buy now, pay later (BNPL), savings, and credit card products are just one part of the threat it poses in consumer banking: Its digital platform delivers an almost unbeatable user experience (UX) and is tailor-made for Gen Z. Banks must adapt quickly or risk losing market share.

P2P mobile payment features could increase engagement. Just over one-third of UK adults currently use P2P mobile payments, versus 56% in the US, per our forecasts. That leaves room for growth: A split payments solution in particular would be used frequently and could help FIs tie users more closely to their apps. Segment Analysis. Demand for transfer features may grow alongside consumer awareness.

Integration of mobile payment systems and wallets is making mobile buying easier. Digital and mobile wallets tied credit cards in 2021 as the payment method most used in the US for ecommerce payments, according to FIS. Consumers remain ambivalent about mobile wallets, but as they become easier to use, they will continue to boost mobile commerce.

After touting a recession-proof business model, the BNPL firm slashed 19% of its workforce and will restructure to the tune of $39M.