Our latest market report gives an overview of the mobile payments landscape in Sweden, Denmark, Finland and Norway.
While these markets have significantly high bank card ownership, carrier billing is still a preferred option for many consumers thanks to its simplicity and safety. Compared to credit card payments, payments are completed much quicker and no personal data is transmitted during the checkout process, ensuring the consumer that no fraud or identity theft can be conducted. As a result, carrier billing 10% and 21% market share from digital content payments in these markets.
Over the past year, revenue per user has substantially grown in three of the four markets. Leading digital merchants including Facebook, Apple, Google, Netflix and Riot Games have also begun to leverage carrier-based payments in the region. This indicates the commercial and technical readiness of the Nordic mobile operators for increase user spend by providing them with a universally accessible, simple online payment method.
In the report, we have brought out a high-level overview of each market’s digital ecosystem, as well as specific data on carrier billing that helps merchants localize their approach to each country.
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India is one of the fastest growing mobile markets of the world with an estimated 260 million smartphone users. According to industry forecasts, there will be 600 million smartphone users in the market by 2020.
With user acquisition costs 2x lower than the global average, the market has significant potential for digital content merchants. At the same time, generating revenue from the acquired user base has so far been challenging to merchants.
Carrier billing can resolve the payments challenge for digital merchants due to several key benefits over other payment methods:
Fortumo provides carrier billing with recurring payments capability to 60% of India's mobile users. Download our latest report and find out how to tap into the growing digital economy of the country!
When a consumer attempts to make an online payment, sometimes the payment is inevitably going to fail.
According to research on online commerce, 32% of basket abandonment can be attributed to payment-related issues (complicated checkout, credit card declined). With total cart abandonment at around 70%, this means a staggering 22% of revenue is lost because the user had issues with making the payment.
In this white paper, we take a look at why payments fail with carrier billing. These issues can be categorized into technical failures, and “consumer failures”. While the first can be easily fixed with some engineering effort, the second part is a bit more complicated and that’s what we will focus on.
In addition to providing an overview of which countries see which “consumer failures” the most, we also outline the steps that both merchants and mobile operators can take in order to reduce the amount of failed payments.
As the result of upfront planning and actionable consumer communication, merchants can recoup a substantial amount of revenue that would otherwise be lost.
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Time to round up the month’s biggest news stories! Check out our recap of the industry news below and in case you missed it, head over and download our market report on the MENA region as well.
Here’s what caught our eye in October: