Key European Mobile payment provider DIMOCO again reports an increase in mobile payment transactions. Compared with the same period 2011 – 2012, mobile payment revenue rose by 65% and the number of transactions increased by 31%. The average number of transactions also rose significantly.
“Mobile payment is a popular payment method in Europe. Thanks to the high smartphone penetration rate and the booming digital content market, we have become one of the most important players in the market,” says Gerald Tauchner, CEO of DIMOCO on the development of the company he and Roland Tauchner, his brother and partner, founded together.
Compared with the same period in 2011 and 2012, mobile payment revenue shot up by 65% and the number of transactions increased by 31%. And the average sum per transaction also showed a significant yearly increase from 2011 to 2012: from 2.32 to 3.32 euros per transaction in all DIMOCO markets and from 3.25 to 4.33 euros per transaction in the more developed DIMOCO countries such as Germany. The reasons for this positive development are due to the high smartphone density in Europe, the steadily increasing supply and demand for digital content as well as the increasing popularity of mobile payment as a payment method.
The huge success of mobile operator payment is due to how easy it is to bill and pay. This is why more and more companies from all types of business areas are using mobile payment to bill their digital content. Thanks to the fast and simple processing, the attractive payouts and high conversion rates, mobile payment is an attractive billing method in the micropayment sector. Many business sectors, among them online media, social networks, browser games and online dating providers, all transact their mobile payments through DIMOCO.
There are increasing calls for the use of open banking APIs from industry groups and even the UK Treasury. It is clear that this market shift is inevitable, but while this openness will facilitate innovation and drive competition, there is uncertainty.
The European Banking Authority (EBA) has published the long-awaited draft of the Regulatory Technical Standards (RTS) covering Secure Customer Authentication (SCA) and secure communication. Tom Hay, head of payments at Icon Solutions shares his thoughts on whether they will be effective.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.