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Data pick of the day: 7 in 10 m-payment users live in urban environments

With the increase in mobile penetration globally, mobile payments have also been on the rise. However, GlobalWebIndex’s latest chart shows that currently, financial infrastructures in rural areas, particularly in many fast-growth markets, lag significantly behind those found in urban locales. This shows that the next growth opportunity for mobile payments is in the rural areas.

Globally, it may be just eight per cent of mobile payment users who live in rural areas, but the cheap adoption advantages of popular QR code-based services like India’s Paytm and China’s AliPay, as well as innovative solutions in connecting many independent rural retailers online, highlights the vast potential in this industry.

COTD_12_MAY_2017_BLOG mobile payments