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Mobile payments is a big market – and it’s about to get much bigger

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In recent years, mobile payment has become a key method of online shopping and other forms of eCommerce. With more members of Generation Z, who grew up in a world where smartphones were not an innovation, but a reality, this segment of the financial space is expected to grow tremendously in coming years. With more smartphones in people’s pockets and an increasing number of countries shifting towards cashless economies, it is no surprise that many of the leading payment technology companies in the world are constantly working to introduce new and improved payment solutions.

In 2016, the mobile payment market was valued at $601 billion¹. By 2017, it grew to nearly $720 billion², and it is expected to cross the $1 trillion milestone in 2019³. Forecasts suggest that it will continue to grow, reaching anywhere between $2.7 and $4.5 trillion by 2023. This growth will be prompted by many catalysts, which will both get more people to use mobile payments and make it easier for existing users to conduct more of their transactions with mobile devices.

Going mobile

The introduction of mobile internet and smartphones placed mobile payment at the fingertips of billions around the world. As the industry grew, more users started using mobile payments, due to its seamless, frictionless nature. Moreover, using an application for making payments gives the user more transparency and control over their finances, with readily available data accessible anywhere, enabling them to track and manage their spending habits. The phenomenon grew to gigantic proportions, with sales events, such as Black Friday and Cyber Monday bringing in billions in mobile payments each year.

But the market is far from reaching its full potential. Alongside obvious growth brought upon by more people around the world obtaining access to smart devices, there is also growing trust in mobile payment systems thanks to companies such as Square placing a strong emphasis on security and fraud prevention. As the industry continues to mature, it is likely to attract more new users.

Several recent innovations could bring new usability to mobile payments. Blockchain is becoming a global trend and several payment giants, such as Mastercard⁴, have already introduced payment systems based on the technology. Other innovations could include increased promotion of e-Wallets, such as Apple Pay, and removing global barriers using services such as Wirecard.

Meeting customers at the point of sale

But there’s much more to mobile payment than online shopping. Using a smartphone instead of a credit or debit card at a point of sale is a phenomenon that is expected to grow, with contactless payment technology making the process intuitive and simple, while giving the user real-time information about their finances.

As this becomes more widespread, it is likely that payment giants will try and leverage this form of interaction with the customer. Meeting a buyer at the point of sale opens up a myriad of business opportunities, since customers could be offered promotions and rewards relevant to them, based on their locations and even payment history. Combining payment technology with location services, artificial intelligence and big data, mobile payment could potentially have an even greater impact on in-store payment than it did on eCommerce.

Investing in the mobile payment industry

With such strong growth forecasts and many opportunities still untapped in the market, it is no wonder that many investors are eager to take part in this well-established industry. To help its clients gain exposure to the mobile payment market, eToro has put together the MobilePayment CopyPortfolio – a fully allocated thematic investment portfolio focusing on the mobile payment market. Using this Portfolio, investors can passively invest in the segment in the long term, with stocks from leading companies such as Mastercard, Visa, PayPal and many others.

Sources:

https://www.alliedmarketresearch.com/press-release/mobile-payment-market.html

https://www.mordorintelligence.com/industry-reports/mobile-payment-market

https://www.statista.com/statistics/226530/mobile-payment-transaction-volume-forecast/

https://newsroom.mastercard.com/press-releases/mastercard-opens-access-blockchain-api-partner-banks-merchants/

eToro is a multi-asset platform which offers both investment in stocks and cryptocurrencies, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

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eToro Launches Sentiment-Based Portfolio for Crypto Investors

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eToro users can now invest in a professional-grade algorithmic strategy from The TIE

October 15, 2019 —  eToro, the leading global investment platform, announces the launch of TheTIE-LongOnly CopyPortfolio, offering users access to a sentiment-based, AIgo-driven investment strategy from The TIE, a cryptocurrency data analytics platform trusted by some of the largest traditional quantitative hedge funds as well as crypto-specific funds.

Guy Hirsch, US Managing Director of eToro, said: “In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.” 

Cryptocurrency fundamentals are still maturing. They have no revenue, dividends or debt. As a result, social sentiment — people’s positive or negative perceptions — is a significant indicator of crypto asset  price movement. The Tie’s proprietary machine learning and language processing models ingest 850 million tweets per day, quantifying the positive and negative tone of conversations on Twitter. TheTIE-LongOnly CopyPortfolio strategy allocates based on positive sentiment, algorithmically rebalancing once per month.

Joshua Frank, CEO of The TIE, said: “eToro is well-known as a community where some of the smartest crypto traders share insights and strategies. We’re proud to offer investors of…

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Version 2.0 of eToro’s open-source programming language Lira developed to write options contracts

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8 October 2019: eToro, the global multi-asset investment company, has announced that Lira, the open-source programming language developed by eToroX Labs, has evolved to write options contracts on the Ethereum Blockchain for the OTC derivatives market.

Announced at a workshop at Devcon V, Osaka, on 8th of October 2019, Dr Omri Ross, eToro’s chief blockchain scientist demonstrated Lira 2.0’s new features, including writing options contracts. The Lira programming language, recently referred to* as one of the “most imaginative things happening in DeFi today” is one of only two such open source solutions on the market, and is all the more exclusive since it is formally verified.

Responding to the announcement, eToro CEO Yoni Assia commented: “eToro has long held the belief that we will eventually see all tradable financial assets tokenized. Lira, our open source programming language, is a step towards making this a reality, enabling the entire community to write and deploy secure financial contracts on Ethereum. The workshop where this was announced was a central event at Devcon, which is significant in demonstrating how the blockchain community shares our vision for open finance.”

Dr. Ross commented: “I am delighted to see the excitement of the community in response to this project. Developers will now be able to…

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Planning on joining the crypto revolution? What does it take to be a successful trader?

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The potential rewards that can result from successful crypto trading have led to a whole new type of trader entering the fray. Amateur and hobby traders have always been part of the market, but till recently, they constituted an insignificant minority. Yet a combination of new online trading tools becoming available and Bitcoin hitting the headlines for its meteoric rise in value a couple of years ago led to the world and his wife wanting a slice of the pie.

Fools rush in where angels fear to tread, and inevitably, many got their fingers burnt and withdrew a little wiser, and often a lot poorer. That’s not due to any inherent fault on the part of the markets – we all know they can go down as well as up. It’s simply a case of inexperienced traders making poor decisions.

As with anything in this world, doing a successful job demands the right tools. Here, we take a look at what an amateur trader needs at his or her disposal in order to hit the ground running and avoid those early mistakes that can be so costly. We will also look at one particular provider, eToro, which has recently entered the US market and seeks to provide a one-stop-shop that delivers everything you will need. 

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Crypto trading is all…

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