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Last Updated: 14. November 2019

Adoption Of Mobile Payment And E-Wallets

Mobile Payment

Mobile payment has been gaining lot of attention recently, due largely to the introduction and adoption of mobile payment systems by the likes of Google, Apple and Samsung. So far, users typically use mobile wallets to buy applications, music, and books on mobile devices. If mobile payment adoption is to grow, what will need to change? You can also see how ePOS systems can streamline your business.

Electronic payment systems need to be accepted. If users cannot pay using mobile payment or e-wallets in their favourite shops, the adoption will be much slower. Apple’s and Google’s push for retailers to accept their solutions should support the adoption of e-wallet systems.

Trust should be gained by mobile payment and e-wallet providers. Most of the users are still cautious when it comes to using mobile payments. Trust can be gained by offering a problem free and enjoyable user experience, however wider adoption and time will also play a role.

Hassle free experience and loyalty programs. Easy payment processes should be adopted as many users might be put off if payment solutions that involve too many steps. Including loyalty programs on the other hand might incentivise users to try and keep using mobile payment and e-wallet systems.

E-wallet experience should be enhanced by peer-to-peer possibilities. If users were able to send money among their friends, family and acquaintances, the adoption of e-wallets could be faster. This should be, however, also be enabled between different brands of e-wallet systems.

Benefits of E-Wallets

  • Lower costs. E-wallets will result in lower transaction costs for both users and businesses. There is no need for intermediaries and it can replace costly POS system when used together with mPOS systems. However, the development costs for this type of software might be high and a partnership with an existing e-wallet would be recommended.
  • Cancer Research UKFirst Mover Advantage. Businesses are now starting to adopt mobile payments and e-wallets, however, widespread adoption might take some time. Adopting electronic payment systems can give businesses a competitive advantage if their segment includes Millennials (born between 1980 and 2000).

  • Flexible. Location is no longer a problem and payments are not tied to the business premises. One example can be seen in UK, where a Cancer Research UK charity shop window allows passers-by to donate anytime just by swiping their card[tweet this Twitter-bird-icon].

  • Convenient. Checkouts are faster, easier, more secure, and customers are more satisfied.


  • E-wallet systems are dependent on the internet connection. If an internet connection is not working or in case of system malfunction, businesses will not be able to processes payments.
  • E-wallet systems need to gain trust from users and businesses. Ensuring its security and therefore gaining trust should be a priority for e-wallet and mobile payment providers.
  • Businesses need to count with initial costs, which would could arise during development of the software, creation of loyalty programs and system’s implementation.

The adoption of mobile payment systems and e-wallets, their security and users’ trust is expected to rise in the coming years, which will alter our shopping experience and businesses’ relationship with customers.

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