Today In Data

Signing Onto The Subscription Model – And Signing Onto Cryptos?

Signing Onto Subscriptions – And Onto Cryptos?

Increasingly, the subscription model has gained traction across all manner of offerings – from meal kits to razors to, of course, movies and video games and even online workouts. The pay-as-you-go aspect of getting services and goods delivered to a device or to the doorstop has its appeal, global in scope and across demographics, as evidenced in the Subscription Commerce Tracker. And in other shifts, showing that “the way it’s always been done” is no longer set in stone, commentary from Diebold Nixdorf VP of North America Solutions Heather Gibbins shows that consumers want the ability to bank online and visit a branch when financial services are needed. Separately, JPMorgan has rolled out the first bank-backed cryptocurrency, geared toward trade finance, and a nod to the fact that in payments, the times they are a-changin’.

Data:

$5 trillion: Value of daily wholesale payments moved by JPMorgan.

$1.1 billion: Projected value of India’s mobile gaming market by 2020.

310 million: Global number of households that will subscribe to at least one streaming service by 2024.

28 percent: Share of Filipino consumers who stream pirated content using illicit services.

$528.8 billion: Overall spend on subscription services estimated for next year.

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Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

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