Constant evolution in mobile handset technology, accompanied by flourishing mobile software development and next generation high-speed network have significantly changed user habits in regards to purchasing and paying. Consequently, payment industry had to adopt to the usage and trends.
For the past 15 years, changes in mobile payments at proximity (face 2 face) have not share the same pace of change as online and in-app purchases. NFC had gain its momentum, especially with wearable devices in Europe and USA. Core telco’s technologies, like SMS and USSD, remain popular mostly in the emerging Markets of Africa, while QR code has become de-facto standard in Asian markets.
Mobile phone users in Slovenia where among the first in the world to be offered mobile payment Moneta at “brick and mortar” stores using Margento DOV technology from as early as 2002. Margento expanded in even higher numbers in Middle East markets. The usage showed significant growth in the first 4 years, with little decline in the past decade, making it still the most popular mobile payment solution in the country.
Recent MasterIndex research by Mastercard indicated people in Slovenia are very incline towards the adoption of new technologies like mobile wallets and biometric. More than 44% customers have used mobile phone for payment.
High rate of usage and early adoption of mobile payments in Slovenia, mostly due to efforts of Margento technology, will certainly stand as an important indicator for the new prevailing standards and trends.
Margento R&D labs are already working on new solutions, based on mobile wallet, which will reshape the paradigm of mobile transactions.