The global banking and payments industry experienced a 17% drop in new job postings related to mobile payments in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 26% decrease versus Q2 2022. GlobalData’s Mobile Payments – Thematic Research report explains the impact of mobile payments on the broader payments sector by identifying key trends such as open banking, the leading companies and providing a comprehensive market overview for mobile payments. Buy the report here.
Notably, Office and Administrative Support Occupations jobs accounted for a 30% share of the global banking and payments industry’s mobile payments-related total new job postings in Q2 2023, down 18% over the prior quarter.
Office and Administrative Support Occupations drive mobile payments-related hiring activity
Office and Administrative Support Occupations, with a share of 30%, emerged as the top mobile payments-related job roles within the banking and payments industry in Q2 2023, with new job postings drop by 18% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 18% in Q2 2023, with new job postings dropping by 6% over the previous quarter.
The other prominent mobile payments roles include Sales and Related Occupations with a 13% share in Q2 2023, Management Occupations with a 11% share of new job postings.
Top five companies in banking and payments industry accounted for 76% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were Wells Fargo & Co, Visa, Bank of America, Canadian Imperial Bank of Commerce, and Desjardins Group. Together they accounted for a combined share of 76% of all mobile payments-related new jobs in the banking and payments industry.
Wells Fargo & Co posted 4,152 mobile payments-related new jobs in Q2 2023, Visa 1,986 jobs, Bank of America 983 jobs, Canadian Imperial Bank of Commerce 646 jobs, and Desjardins Group 361 jobs, according to GlobalDataâ€™s Job Analytics.
Hiring activity was driven by the US with a 70.67% share of total new job postings, Q2 2023
The largest share of mobile payments-related new job postings in the banking and payments industry in Q2 2023 was in the US with 70.67% followed by Canada (9.15%) and India (5.51%). The share represented by the US was 21 percentage points higher than the 49.93% share it accounted for in Q1 2023.
For further understanding of GlobalData's Mobile Payments - Thematic Research buy the report here.