Everyday we hear about new mobile payment apps, and about how one mobile payment app is attracting millions of new users. In this post, i thought i would highlight some of the most popular mobile payment apps (in no particular order) in the world. As i find new interesting information, i will add/update this post. The reason i call them the most popular mobile payments apps in the world is because of the numbers – simply amazing – check them out:
Popular Mobile Payment Apps:
1. Paytm
- Launch date: 2010
- Number of countries: 1
- Active customer accounts: 180 million
- Total value of payments in 2016: $5 billion (as of November 2016)
- Total number of payments in 2016: 1 billion
- Largest markets: India
Reference: Paytm
2. Apple Pay
- Launch date: October 2014
- Number of countries: 13
- Active customer accounts: We don’t know?!
- What we do know is that the number of Apple Pay users tripled in 2016 (Ref: Mobile World Live) and has approximately 12 million monthly users (Ref: Digital Pivot)
- Total value of payments in 2016: We don’t know?!
- What we do know is that the Apple Pay transaction totalled $10.9 billion in 2015
- Total number of payments in 2016: We don’t know?!
- What we do know is that transaction volume was up over 500% year-over-year
- Largest markets: USA
Reference: NFC World
3. Samsung Pay
- Launch date: August 2015
- Number of countries: 12 (Ref: eMarketer)
- Active customer accounts: We don’t know?!
- What we do know is that as-of Feb 2016, Samsung Pay had 5 million users
- Total value of payments in 2016: We don’t know?!
- What we d know is that in the six months leading to Feb 2016, Samsung Pay processed over $500 million
- Total number of payments in 2016: We don’t know?!
- What we do know is that during August 2015 – August 2016 there were about 100 million unique transactions in 7 countries (Ref: Samsung)
- Largest markets: South Korea
Ref: Samsung
4. Android Pay
- Launch date: September 2015
- Number of countries: 9 (Ref: Digital Trends)
- Active customer accounts: 5 million monthly users (Ref: Digital Pivot)
- Total value of payments in 2016: To be confirmed
- Total number of payments in 2016: To be confirmed
- Largest markets: US, UK
5. AliPay
- Launch date: August 2004
- Number of countries: 110 (Ref: AliPay)
- Active customer accounts: 450 million (Ref: AliPay)
- Total value of payments in 2016: I couldn’t find this value
- But many sources indicate on Singles Day (11-Nov-2016) in China AliPay processed just over a billion transactions totalling $14.6 billion (in a day!!!)
- Total number of payments in 2016: 91 billion (Ref: FT – based on 250 million transactions a day)
- Largest markets: China, South Korea, Hong Kong, Thailand
6. PayPal
- Launch date: October 1999
- Number of countries: 202
- Active customer accounts: 197 million
- Total value of payments in 2016: $354 billion
- Total number of payments in 2016: 6.1 billion
- Largest markets: USA, UK, Germany, Australia & New Zealand
Reference: Paypal Media Resources
7. M-Pesa
- Launch date: March 2007
- Number of countries: 10 (Ref: Vodafone)
- Active customer accounts: 25 million (Ref: Telecoms)
- Total value of payments in 2016: $24 billion – Period: Jan-Sept 2016 in Kenya only (Ref: Nairobi News)
- Total number of payments in 2016: 326.8 million – Kenya only (Ref: The Star)
- Largest markets: Kenya
Reference: Vodafone
If you spot any incorrect information, please let me know in the comments below the correct information (include the source) and i will make the necessary corrections!