Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Big Data Reveals Surprising Insights Into Phone Payments
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Big Data Reveals Surprising Insights Into Phone Payments
Big DataExclusive

Big Data Reveals Surprising Insights Into Phone Payments

Diana Hope
Diana Hope
5 Min Read
phone payment
Shutterstock Licensed Photo
SHARE

Big data has helped us learn more about the changing nature of the economy. A growing number of digital firms are using machine learning to discover insights into the nature of the new world of commerce.

Contents
Big Data Shows the Changing Role of Phone Payments in the New EconomyBig Data Insights into Phone PaymentsPhone Payment FactsBig Data Lends More Credibility to Phone Payments in eCommerce

One of the newest trends is the role of phone payments for a variety of services, especially those conducted online. New Hadoop and other data extraction tools have provided a great deal of information about these trends. Uulaa provided some very insightful information about the link between big data and phone payments in a Medium article.

Big Data Shows the Changing Role of Phone Payments in the New Economy

The world is changing at a rapid rate. Many of these new changes are evident in our economy and how we transact and do business. As it turns out, we now have witnessed the emergence of an entirely new currency which goes beyond the outdated banking systems in the form of cryptocurrencies which has been receiving a massive amount of interest and hype. Gone are the days when the only way to make financial transactions was by paying with cash or using a credit card.

These days, there are newer and better ways to transfer money and pay with a mobile phone has quickly become one of the most popular and widely accepted options. You can purchase just about anything using a mobile payment method and there are even some sites that work exclusively with this method. Online casinos have been particularly supportive of the pay by phone method and there are many brands such as PaybyPhone offering this option to their clients.

More Read

Privacy in Behavioral Targeting: Poll Results
Statistics: The Need for Integration
How AI Is Changing Data Analytics in 2024
A Quick Guide to Structured and Unstructured Data
The ABCs of Master Data Management

These services would not have been possible without major advances in big data. Big data has also made it easier to detect the changes in the ecommerce field. A growing number of banks are using big data to encourage mobile payments as well.

Big Data Insights into Phone Payments

Mobile phone payments check all the right boxes by providing fast, secure and convenient transactions anywhere at any time. In this article, we will be taking a look at some of the facts regarding mobile phone payments.  The observations that we have made hear come from extensive data mining from companies that keep big data reserves of this information.

Phone Payment Facts

  • The current leader in the mobile phone payment market is the software giant PayPal. The company has the most registered users on its e-wallet platform that is predicted to reach 2 Billion users in 2019. Big data tools have shown this figure is likely to keep growing.
  • Most of the people making use of the mobile phone payment option are between the ages of 35 – 44 years.
  • About 25% of all users with a smartphone have used their device to pay for goods and services online at least once.
  • Companies such as Google and Samsung who have developed their own mobile payment systems, namely Google Pay and Samsung Pay, are developing strategies that will reward their users with benefits every time they choose to pay for goods using their mobile phones. The aim is to get more and more people comfortable with making payments using their mobile phones, as many people are still hesitant to place their trust in this new system.
  • A recent study revealed that most members of the public would feel more comfortable making mobile payments in a physical store than they would online.
  • There are more than 5 Billion mobile payment accounts that have been opened and are currently active throughout the globe.
  • The majority of mobile payments are being made in the region of Asia and the Pacific with Africa and North America not far behind. The regions where the least mobile payments have been adopted include the Middle East and South America.
  • Customers now have a variety of phone payment providers to choose from and this list includes Venmo, Stripe, Chase Pay, Apple Pay, Google Pay, Samsung Pay, Trustly, Boku, Skrill, PayPal, Neteller and Walmart Pay for residents in the US.

Big Data Lends More Credibility to Phone Payments in eCommerce

The ecommerce field is growing significantly, largely due to developments in big data. Big data helps companies learn more about the effectiveness of phone payments and other transactions.

TAGGED:big datamobile paymobile paymentsphone paymentsphones
Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing
AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Why Big Data Analytics is The Next Big Opportunity for Outsourcing Companies

4 Min Read
forecasting analytics
Predictive Analytics

Forecasting Is Harder Than It Looks

2 Min Read
how ai is transforming lending
Artificial IntelligenceExclusiveFintechMachine Learning

How AI Is Transforming Lending And Loan Management

8 Min Read
big data for healthcare
Big DataExclusive

How Is Big Data Going To Change Epidemiology And Disease Research?

9 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai chatbot
The Art of Conversation: Enhancing Chatbots with Advanced AI Prompts
Chatbots
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?