Digital Lifescapes

Online commerce transactions are the essential fuel that drives the Global Networked Economy.  Digital business growth experienced an economic uplift as a consequence of the economic challenges that accompanied the global health crisis brought on by the COVID-19 pandemic. At the same time, the digital transformation of consumer transactions contributed to even greater upward momentum. Even as more legacy retailers shifted to eCommerce, the last 24 months have been the most difficult time for mid-market retailers as they recover from the pandemic disruption. Global eCommerce Market Development   According to the latest market study by Juniper Research , the value of global eCommerce payment transactions will exceed $7.5 trillion by 2026 -- that's up from $4.9 trillion in 2021. This growth rate of 55 percent over the next five years will be driven by retailers offering compelling omnichannel retail experiences that increase user eCommerce spending. Omnichannel retail is a model ...

Following the transition from magnetic stripe to EMV (smart cards that store data on integrated circuit chips), the U.S. retail market is upgrading to contactless point-of-sale (POS) terminals. Meanwhile, 100 percent of POS terminals may already be contactless-enabled in Canada, the UK and Japan. Moreover, Visa reports that about 50 percent of its in-person transactions (outside the U.S.) are already contactless, through payment cards and mobile devices. In the U.S. market, where the EMV rollout is recent, it's estimated that 52.7 percent of POS terminals were now contactless-enabled in 2019. Contactless POS Market Development According to the latest worldwide market study by Juniper Research, the installed base of contactless-enabled POS devices will exceed 161 million by 2024 -- growing from 78 million devices in 2019. Contactless POS devices will then be about 94 percent of all POS devices in use. Juniper believes that this growth will be driven by the deployment of cont...

In the course of the past 5 years, the mobile phone device has transitioned from a mechanism for person-to-person communication to a multi-purpose facilitator of essential everyday activities. Making payments has been an integral part of this transition, and the emergence of the mobile wallet is a key to ongoing market development. Juniper Research has found that 1 in 5 mobile handsets will have mobile wallet functionality by 2018 -- that's compared with less than 1 in 10 at the end of 2013. Growth will be driven by two distinct wallet models. In emerging markets, SVAs (Stored Value Accounts) are increasingly enabling first time financial access for unbanked individuals. Empowered by this model, it's anticipated that there will be a surge in deployments across sub-Saharan Africa, developing Asia and Latin America. Meanwhile, Juniper believes that wallet launches across developed markets -- such as North America and Western Europe -- are increasingly expected to feature co...

The U.S. mobile payment landscape is progressing very slowly. Although two-thirds of American consumers are interested in learning more about transitioning to a smartphone wallet platform, that interest is simply not translating into adoption. While traditional point of sale payment methods continue to reign supreme, a number of third-party mobile wallets are jockeying for position in the U.S. marketplace -- but not all have the vision needed for long-term survival. To endure the inevitable wave of consolidation, a well-defined road-map paired with patience and endurance will be among the many competencies required. According to the latest market study by the Yankee Group, they ranked the staying power of Google Wallet, Isis, LevelUp, Loop, MCX, PayPal, and Square as determined by the strength of their merchant and consumer value propositions and ability to deliver on them. Highlights from the market study include: Mobile wallets remain a story of high interest and low adopt...