Mobile payments worldwide pass 1 trillion amid pandemic

Last year, total mobile payment users worldwide (those who had made a purchase at least once in the prior six months) surpassed 1 trillion. The research, from eMarketer, shoes that by 2022, nearly one-third of mobile phone users will use a payment app. The world quickly adapted as the pandemic increased the demand for contactless payments. As a result, we saw a significant jump in mobile payment users in 2020.

The year-over-year growth was significant, increasing by 22.2%. Penetration among smartphone users increased as well—44.6% in 2020, up from 38.3% in 2019.

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