In our most recent infographic, entitled: “The Digital Payment Ecosystem In A Nutshell”, we cover a plethora of information on the topic of digital payments across the industry. First, you’ll be introduced to a short definition of what digital payments are. Also right off the bat, you’ll see statistics for mobile payment market shares, as well as for global mobile payments themselves. For example, did you know that in 2016, U.S. consumers bought $47.6 billion of physical goods via remote mobile payments? Or that the number of Chinese mobile payments is expected to multiply by 7.4 times between 2015 and 2019? More facts found in the infographic below.  

From there, you’ll learn about 4 trending digital payment methods, including: mobile in-store payments & apps, digital currencies, e-wallets & mobile payment applications, and social media payment options, as well as a little bit about each one. You’ll also find out some little known facts about payments, such as that nearly 90 percent of millennials today own and are in close contact with their smartphones throughout the day; and that 726 billion transactions are expected to be made using digital payment technologies by 2020; and that the total Peer-to-Peer (P2P) mobile payments volume could grow nine-fold over the next five years, reaching $336 billion by 2021; among many other stats.

Next, the infographic reveals some of the benefits of digital payment options, including that: they’re faster, easier and more convenient to use; they’re economical and have less transaction fees; they can be easy to give waivers discounts, and cashbacks with; they leave an easy digital record of transactions; they can be a one stop solution for paying bills; and they help keep black money under control. An explanation for each of these is found below.  

We also give you 5 examples of mobile payments, including Apple Pay, Android Pay (or the Google Wallet), PayPal, Samsung Pay, and the Capital One Wallet – including a bit of information about each one. For example, did you know that Samsung Pay accommodates up to 10 different debit/credit cards, and works with all major US banks, including US Bank, Chase, and the Bank of America? This section of the infographic also goes into some extended information concerning PayPal, including the facts that 18% of all e-commerce is processed by PayPal, and that in 1999, PayPal was voted as one of the year’s 10 worst business ideas.

After that, we identify and expound on 5 trends which are driving the future of payments. These include Generation Z rising, the fusion of fintech and banks, payments everywhere (anyone can be a merchant, and anyone can easily pay), an arms race in code, and the fact that fraudsters innovate too, all discussed in greater detail in the infographic. We also talk about a breakthrough in digital wallet design, and give info about the numbers of blockchain-based wallet owners, quarterly from 2015-2018, along with a simple graph to visualize these numbers.

Finally, we finish off by showing you some of the features of our (BCMY) wallet app, including: multi-asset functionality, solid payment API, QR codes, NFC smart cards, an in-wallet exchange, redemption of two of our accepted tokens for physical gold at select locations, Peer-to-Peer functions including chat and a cryptocurrency merchant map, and a marketplace where you can purchase items, or even set up your own cryptocurrency accepting shop.

We hope you enjoy the infographic below,

The team.