ACI and US-based consultancy Aite Group have
identified a new consumer segment within the payments space, the
Smartphonatics.
Smartphonatics is the type of consumer segment
that drive demand for mobile payments and banking.
Go deeper with GlobalData
“Smartphonatics enthusiastically use their
smartphones when they shop for products and services as well as
when they interact with their banks,” said Ron Shevlin, senior
analyst, Aite Group.
“They exist around the world and while they
may be more concentrated in some countries, it is quite clear they
are an emerging consumer force. Smartphonatics are driving the
adoption of mobile banking and payments and will be an agent for
change. Financial and retail institutions will need to adapt
or risk being left behind.”
According to the two companies, the
smartphonatics population is mostly concentrated in India and China
and to a lesser extend in the US and Europe.
A report published by Aite Group on this
topic highlights some key statistics about the smartphone payments
market:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData- 25% of consumers worldwide are Smartphonatics.
- India has the highest percentage of identified Smartphonatics
(60%), while South Africa has 42% and the US has 20%. - Unsurprisingly, Germany’s concentration of smartphonatics is
just 10%. - In France and Canada, the figure is even lower at 8% and 7%
respectively. - 36% of of Gen Yers and about 33% of Gen Xers are
Smartphonatics.
However, the study acknowledges that mobile
payments will not replace traditional payment methods. Instead, the
study found that this new segment of consumers is more willing to
use other forms of payments.
Ralph Dangelmaier, president, global markets
and services, ACI Worldwide, said:
“Organisations need to plan
strategically for mobile as part of their overall channel strategy,
alongside ATMs, POS, branch and online banking. The most successful
companies are leveraging their existing banking and payments
systems to implement innovative mobile services. That way, they can
cut down costs and time to market for new mobile ventures.”
Aite Group surveyed 4,200 consumers from 14
countries in the first quarter of 2012.
