According to a recent report from Timetric, mobile penetration has witnessed a healthy growth during the review period, rising from 128.3% in 2010 to 134.3% in 2014. One of the primary reasons for growth in smartphone usage is the availability of 3G and 4G connectivity. Growing preference for smartphones, especially among the young population, is anticipated to further drive mobile penetration - which is expected to reach 143.4% in 2019 - and growth in m-payment transactions in the country.
To meet the growing demand for contactless mobile payments, retailers are installing point-of-sale (POS) terminals that accept mobile payments using contactless technology. In April 2015, Vodafone Germany, Deutsche Telekom and Telefónica, along with six major German retailers, launched a program in Berlin to introduce POS terminals that accept mobile contactless payments. Under the program, 2,000 POS terminals across 500 retail outlets will be upgraded to accept mobile contactless payments.
MasterCard, in February 2014, announced collaboration between Deutsche Telekom, Telefónica Deutschland, Vodafone and MasterCard’s subsidiary, Trevica, to provide mobile contactless payment solution for customers of MasterCard’s partner banks. The service allows banks to connect to a single platform instead of connecting to individual mobile operators. Similarly, Vodafone introduced its mobile contactless payment service named SmartPass for Android phone users in 2013. Volksbank introduced m-payments based on contactless technology in August 2014.
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