As the mobile phone penetration is growing, it drives the expansion of Cards & Banks

As the mobile phone penetration is growing, it drives the expansion of Cards & Banks

You are probably familiar with Apple Pay or Samsung Pay. The payment apps carries your credit, debit, gift and membership cards on your devices so you can pay in-person, online or in-app with just a tap. Plus, you can get extra rewards for the same purchases you make every day, in Samsung’s case.

You may add your qualifying Visa, Mastercard, American Express or Discover cards issued by our partner banks. According to Samsung Pay, they currently supports 1,000+ banks and credit unions, with more on the way. Also, by using the ‘tokenisation’ technology you may add other types of cards. By using your camera you may add loyalty, membership and rewards cards to your phone or wearable. Samsung Pay can store almost any card with a barcode on it. Same applies to gift cards, Samsung Pay ensures you always have them when you need them. Or you can purchase, send and receive gift cards directly from the app.

Apparently this is a great strategic move for the classic credit cards companies as they tap into a huge infrastructure – the mobile devices. Traditionally cards are a well-known modern commerce service for the western countries but the world is much more than USA and EU. There are countries out there with a very low adoption rate for modern type of commerce but with a huge adoption for mobile devices, in some cases two or three times more. This is the perfect new driver for card companies and banks in their effort for world expansion.

According to, in 2019 the number of mobile phone users is forecast to reach 4.68 billion.

Number of mobile phone users worldwide from 2015 to 2020 (in billions):

More from “The number of mobile phone users in the world is expected to pass the five billion mark by 2019. In 2016, an estimated 62.9 percent of the population worldwide already owned a mobile phone. The mobile phone penetration is forecasted to continue to grow, rounding up to 67 percent by 2019. China was predicted to have just over 1.4 billion mobile connections in 2017, while India was forecast to reach over one billion. By 2019, China is expected to reach almost 1.5 billion mobile connections and India almost 1.1 billion.

Most of the mobile market growth can be attributed to the increasing popularity of smartphones. By 2014, around 38 percent of all mobile users were smartphone users. By 2018, this number is expected to reach over 50 percent. The number of smartphone users worldwide is expected to grow by one billion in a time span of five years, which means the number of smartphone users in the world is expected to reach 2.7 billion by 2019. Samsung and Apple are leading smartphone vendors, with about 18 percent of the market share each.”

When we corroborate these figures to others from the cards market, than the market prospect is looking quite colossal. The number of payment cards globally reached 14 billion in 2016 and is predicted to rise to 17 billion by 2022, driven by further debit card issuance as the banked population increases. (

As the mobile phone penetration is growing, it drives the expansion of Cards companies and Banks.