34% of all online payments now made with smartphones

According to Adyen's 4Q15 edition of the Mobile Payments Index, 34% of online banking transactions are now made on a mobile device in comparison with just 30% in the previous quarter. This increase is reportedly being driven by Asian-based mobile banking systems JCB, UnionPay and AliPay, which recorded transactions of 54% up from 47%, 31% up from 23% and 44% up from 35% respectively. However, the iPad is top for average transaction value at $107, while the average transaction value for Android tablet, iPhone and Android smartphone were $86 to $83 and $73 respectively.

For the first time, over a third of browser-based online transactions globally are now made on a mobile device, compared to just 30 per cent last quarter.

Findings come from global payments technology company, Adyen, in the 2015 Q4 edition of its quarterly Mobile Payments Index, which tracks mobile payment data across its customer base.

According to the company, the increase is driven by Asian-based payment methods including JCB, UnionPay and Alipay.

JCB recorded the highest share of mobile payments with 54 per cent of transactions made on a mobile device, up from 47 per cent last quarter.

Alipay increased to 44 per cent, up from 35 per cent, and UnionPay to 31 per cent up from 23 per cent.

The Index also showed that for the first time, smartphones have overtaken tablets as the preferred device for online retail purchases, at 17.5 per cent of transactions are made on smartphones against 16 per cent on tablets, compared to 14 per cent and 17 per cent respectively last quarter.

However, in terms of average transaction value for device types, for the first time, the iPad led the way at $US107, pushing past smartphones and desktops/laptops.

The Android tablet was next at $US86, followed by the iPhone at $US83 and Android smartphones at $US73.

Adyen Asia-Pacific president, Warren Hayashi, said, “the checkout stage of the shopper journey is not the end, but the beginning of an on-going relationship with the consumer. Merchants that have created a frictionless mobile checkout experience are driving repeat traffic especially in Asia where many consumers are increasingly shopping online through a mobile device.”