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In e-commerce 2019: online, mobile & digital payment systems will overtake cards

The United Nations UNCTAD Division on Technology and Logistics departments comprehensive annual Information Economy Report for 2017 (129 pages) delivered several important findings:

  • In the new digital era there are major opportunities, and risks to our economies and our way of life::
    • Source & Copyright©2017 - UNCTAD
  • online, mobile and digital currency payment systems are set to overtake credit and debit cards as the most popular ways to pay in e-commerce worldwide by 2019 (and that share of credit and debit cards in global payments is expected to drop to 46 per cent by 2019 from 51 per cent three years ago)
  • last year China's mobile revenue hit $5.5 trillion, which is 50 times more than the size of America's $112 billion market, wit much of the mobile payment services being via social messaging services: WeChat and AliPay - its paypal equivalent -  linked to a bank account
  • By 2019, global Internet traffic is expected to be 66 times higher than in 2005
  • Production of ICT goods and services accounts for some 6.5 per cent of global GDP
  • USA and China make by far the most cross-border online purchases:

CTMfile take: 1) Are you ready for the predicted global move away from cards in e-commerce by 2019. 2) If you are not selling via mobile in China your company will be losing out.

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This item appears in the following sections:
Payments - Receipts at POS
Card Payments at POS
Collecting Payments on the Internet
Collecting Payments via Mobile

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