Increasing e-Commerce Sales Worldwide a Huge Bonus for Exploding Digital Payment Market

August 11, 2021 at 08:30 AM EDT

Palm Beach, FL – August 11, 2021 – FinancialNewsMedia.com News Commentary – Various government bodies across the world are making efforts to increase the adoption of digital payments. The market is expected to benefit from the high adoption rate of smartphones, rise in e-commerce sales, and improved internet penetration globally. Governments across the globe are undertaking initiatives to digitize payments. This is promoting economic growth and is benefitting end-users in many countries across the globe. Facial recognition technology is gaining popularity worldwide. Various companies are making efforts to provide facial recognition-based payment methods to retail stores. This technology is helping merchants minimize a customer’s checkout time at retail stores. Increasing e-commerce sales worldwide is also one of the major factors driving the market growth in recent days. Nowadays, people across the world are increasingly using contactless cards and mobile payment solutions for making online payments. A report from Grand View Research said that “The global digital payment market size was valued at USD 58.30 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 19.4% from 2021 to 2028.” Active Companies in the markets today include Mobilum Technologies Inc. (OTCPK: MBLMF) (CSE: MBLM), PayPal Holdings, Inc. (NASDAQ: PYPL), Shift4 Payments (NYSE: FOUR), Square, Inc. (NYSE: SQ), Global Payments Inc. (NYSE: GPN).

The Grand View Research report said: “The point of sales segment dominated the market in 2020 and accounted for more than 52.0% share of the global revenue. Point of sales includes the systems used by retail stores for processing transactions. Point of sales provides benefits such as fast checkout options, customized customer experience, and multiple payment options. Various retailers and restaurants adopt the point of sales mode of payment for enhancing customers’ payment experiences. The net banking segment is expected to register the highest CAGR over the forecast period. The benefits offered by net banking, such as enhanced time efficiency, ease of banking, and activity tracking are some of the major factors driving the segment growth. Various countries worldwide are witnessing an increase in internet banking users in recent days. Increasing internet penetration is also one of the factors driving the segment growth. According to the statistics provided by eMarketer, approximately 80% of the U.S. internet users accessed their bank accounts digitally in 2020.”

Mobilum Technologies Inc. (OTCPK: MBLMF) (CSE: MBLM) BREAKING NEWS: Mobilum Technologies Awarded Payment Institution License and Announces Record Monthly Total Transaction Volume of CAD $5.3M In July – Mobilum Technologies Inc. (“Mobilum” or the “Company”), a technology driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that the Company has generated a record Total Transaction Volume (TTV) of approximately CAD $5.3 million in July 2021, which represents 30% month over month growth from the previous month.

Mobilum OÜ CEO, Wojciech Kaszycki, commented: “We are very pleased to see significant strength in our total transaction volume month over month as we continue to execute on our growth strategy.”

Mobilum Pay LLC, a wholly-owned subsidiary of Mobilum OÜ, has also been issued a Payment Institution License in Poland registered under ID MIP118/2021.

The registration allows Mobilum to engage in the following activities in Poland:

Accept cash deposits and make cash withdrawals from a payment account
Execution of payment transactions
Issuance of payment instruments such as debit and credit cards
Money remittance and transfer services

“We are pleased to complete our first step to becoming an Electronic Money Institution by registering as a Payment Institution License in Poland,” said Kaszycki. “With this first phase of the process completed, the next step is to become a National Payment Institution which will allow Mobilum to engage in worldwide activities.” CONTINUED… Read this full release for Mobilum Technologies Inc. at: https://www.financialnewsmedia.com/news-mblm/

Other recent developments in the markets include:

PayPal Holdings, Inc. (NASDAQ: PYPL) recently announced the launch of Pay pal Zettle in the U.S., a digital point-of-sale solution that enables small businesses to seamlessly sell across in-person and online channels. The launch comes at a time when there has been a historic shift in consumer behavior towards digital and omnichannel commerce, and businesses need to adapt to meet their customers wherever they are.

With PayPal Zettle, small businesses will get an integrated solution that enables them to accept a range of payments in-person with the Zettle card reader, helps them start selling online, and also helps them manage sales, inventory, reporting and payments across channels, all in one place. PayPal Zettle will also enable businesses to leverage PayPal’s suite of payment and commerce solutions.

The United Center, home of the Chicago Bulls and the Chicago Blackhawks, has partnered with Shift4 Payments (NYSE: FOUR), the leader in integrated payment processing solutions, to deliver the latest commerce technologies to its arena. Shift4 will power all payments at the United Center for concessions, premium, suites, & retail, integrating its VenueNext point-of-sale technology to streamline the entire event experience for fans throughout the venue as well as the Bulls, Blackhawks and United Center apps.

This partnership will solve multiple commerce needs as a one-stop-shop solution for the United Center, reducing overall technology costs and complexity. Shift4’s integrated commerce and payment services will ensure fans have a consistent and seamless experience across all live events.

Square, Inc. (NYSE: SQ) recently said that Canadians are finally having a really good hair day. With salons and spas finally allowed to reopen countrywide following months of lockdowns, customers are flocking to see their stylists and personal care practitioners in a frantic effort to touch up their roots, get rid of split ends and get some cuticle care.

A new survey commissioned by Square, the globally trusted software, payments, and hardware solution for businesses of all sizes, sought to determine which personal care services Canadians missed the most, and hair was by far the top beauty priority, with 45 per cent of respondents saying the first service they sought was a haircut, while another six per cent were in a rush for root touch-ups. Five per cent of Canadians prioritized pedicures and manicures, with other services such as waxing and facials accounting for four per cent of bookings.

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, recently announced that PwC, a global leader in professional services, will be a charter member of its new TSYS Partner Program.

An initiative of Global Payments’ Issuer Solutions segment, the TSYS Partner Program will cultivate strategic alliances with top global companies and unlock mutual business opportunities by delivering a robust, scalable comprehensive solution set to companies worldwide.

The collaboration with PwC jointly delivers software and services to financial institutions, retailers, fin techs, neobanks and startups that are poised to make significant digital investments. Global Payments’ cloud-based technologies deliver innovative solutions at scale with faster speed-to-market to clients worldwide. Potential services include program management, customer insights and analytics, fraud tools, portfolio conversion services and wholesale platform replacements, as well as core processing capabilities.

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