by Nick Tubb, General Manager, Ingenico ePayments Asia Pacific
by Regina Lau, Ingenico ePayments Chief Strategy Officer.
The number of people using Apple Pay, Android Pay, Samsung Pay and other forms of smartphone payments will top 150 million by the end of the year, according to figures released by Juniper Research.
According to the company, more than 800 million mobile users are on Tencent, a figure which has rapidly grown as the internet service giant taps into its WeChat messaging app user base.
With retail sales at an all-time high globally (according to data from eMarketer, total retail sales hit $22 trillion worldwide in 2016, a 6% increase from 2015), payment service providers (PSPs) will have to deliver more to the merchant acquirers than ever before.
Orders from Chinese online retailers are helping Russian e-commerce hit new heights, with the market set to reach €14.85 billion in 2016.