Platform payments currently make up one of the fastest-changing spaces in the payments world, progress that has been largely led by bitcoin and other cryptocurrencies. In fact, the electronic cryptocurrency has surged by more than 300 percent this year alone, and several providers — Payza, Overstock, tZERO and more — have rolled out new features or solutions to help consumers better use such payment methods.
In other news, subscription commerce has been in high demand, with its soaring popularity and on-demand services, which often see difficulty receiving recurring payments. Subscription management platforms like Chargebee are changing how subscription commerce companies process recurring payments, build their businesses and engage with consumers.
Read more about the growth of cryptocurrencies like bitcoin, the ever-expanding realm of subscription commerce and more in this month’s Payments Powering Platforms Tracker. In the meantime, here are the numbers:
9 trillion | Value spent on mobile payments in China last year, nearly 90 times the amount spent via mobile payment in the U.S.
6.1 billion | Number of smartphones projected to be in use by 2020
344 | Percentage surge of the market value of cryptocurrency so far in 2017
34 | Percentage of PayPal transactions now made via mobile devices
29 | Percentage of Canadian smartphone owners who report having used their devices to pay
16 | Percentage increase in digital payments usage in 2016