MasterCard shared statistics on the use of wearable electronics by Europeans for contactless payments.
What did they say
The most advanced users of the Netherlands are considered. This country accounts for 33% of all contactless payments in Europe in 2019. The second place is occupied by Great Britain (18%), and the third – by Switzerland (8%).
Ukraine was in the TOP 10. Naturally, all thanks to Apple Pay, as only this payment system supports wearable devices (Apple Watch). There is still Garmin Pay, but there are clearly not many owners of Garmin smart watches. As for Google Pay, in Ukraine it does not officially work on smart watches.
“ We are pleased to see how Ukrainians are easily switching to new payment methods that fit into their digital lifestyle. Every month, Ukrainians already make several tens of millions of payments using NFC digital wallets. Today, Ukraine has entered the TOP-10 of the European countries rating for the number of payments with wearable devices, ” said Yuri Batkhin, vice president of business development at Mastercard in Ukraine.
The increase in calculations using wearable devices is associated with their popularity among users. For example, in Europe today, one in five adults has a smart watch or fitness bracelet. According to forecasts, by 2020 the global market for wearable electronics will amount to 30 billion euros.
Contactless payments also penetrate our lives more and more: 61% of all transactions in European outlets are contactless. This is 23% more than at the beginning of 2018. In Ukraine, the share of contactless payments by cards and gadgets among all payments at the terminals is almost 30%.