Top 10 Countries Using Mobile Payment System

7 May, 2017 | 0 comments

Mobile Payment System
The most revolutionary step taken by any democratic government in recent decades is the demonetisation of the large value notes from India. The decision of the Narendra Modi government on the one side took a toll on the cash transactions in India and on the other hand, pushed the usage of digital payment systems. The electronic payment system is not a new thing for people, be it on the global platform or in

a rising country like India. In fact, the new age users are going a step ahead and using their mobile phones as digital wallets. A recent survey revealed the ranking list of the countries using mobile phones for online payments. And it’s surprising that most of the G-8 countries are appearing at the bottom of the list.

10.

Japan: The most hi-tech and advanced country like Japan stood at the 10th position in using mobile phones for online payment. Percentage of people use mobile phones for digital payments is only 29%.

9.

Pakistan: Pakistan is the 9th ranked country to use mobile phones for digital payments. The usage is only 31%.

8.

United Kingdom: The UK ranked 8th. Being such an advanced country the usage of mobile payment system is merely 35%.

7.

United States: The most powerful country on earth is ranked 7th in the list. About 44% people use mobile phones while performing online transactions in the United States.

6.

Brazil: About 58% people use mobile payment system. Brazil stands in the 6th position.

5.

Sweden: Sweden is the 5th largest country in the world to use mobile phones for making online payments. The percentage is about 64.

4.

South Africa: About 68% of the online transactions in South Africa are performed through mobile phones.

3.

Turkey, Kenya: There are joint winners for the 3rd position. Out of the total online transactions, about 69% transaction in Turkey and Kenya are made through mobile phones.

2.

India, China: These two giant economies stood at 2nd position jointly. Both the Countries are proved to be promising economies and hold a substantial portion of the world economy. About 86% online transactions are made through mobile phones.

1.

Indonesia: This is really an out of the league selection. The survey revealed that almost 95% online transactions are executed through mobile phones. This is a very commendable achievement.

Source: CIGI-Ipsos Global Survey

The most revolutionary step taken by any democratic government in recent decades is the demonetisation of the large value notes from India. The decision of the Narendra Modi government on the one side took a toll on the cash transactions in India and on the other hand, pushed the usage of digital payment systems. The electronic payment system is not a new thing for people, be it on the global platform or in a rising country like India. In fact, the new age users are going a step ahead and using their mobile phones as digital wallets. A recent survey revealed the ranking list of the countries using mobile phones for online payments. And it’s surprising that most of the G-8 countries are appearing at the bottom of the list.

10.

Japan: The most hi-tech and advanced country like Japan stood at the 10th position in using mobile phones for online payment. Percentage of people use mobile phones for digital payments is only 29%.

9.

Pakistan: Pakistan is the 9th ranked country to use mobile phones for digital payments. The usage is only 31%.

8.

United Kingdom: The UK ranked 8th. Being such an advanced country the usage of mobile payment system is merely 35%.

7.

United States: The most powerful country on earth is ranked 7th in the list. About 44% people use mobile phones while performing online transactions in the United States.

6.

Brazil: About 58% people use mobile payment system. Brazil stands in the 6th position.

5.

Sweden: Sweden is the 5th largest country in the world to use mobile phones for making online payments. The percentage is about 64.

4.

South Africa: About 68% of the online transactions in South Africa are performed through mobile phones.

3.

Turkey, Kenya: There are joint winners for the 3rd position. Out of the total online transactions, about 69% transaction in Turkey and Kenya are made through mobile phones.

2.

India, China: These two giant economies stood at 2nd position jointly. Both the Countries are proved to be promising economies and hold a substantial portion of the world economy. About 86% online transactions are made through mobile phones.

2.

Indonesia: This is really an out of the league selection. The survey revealed that almost 95% online transactions are executed through mobile phones. This is a very commendable achievement.

Source: CIGI-Ipsos Global Survey