An alumnus of the University of Pittsburgh, Jerome Arthur Uffner is a veteran financial executive focused on electronic payments. Jerome Uffner is the senior vice president of prepaid at FIS Global and was involved in its acquisition of Worldpay Group, a leading e-commerce payment technologies company.
On Feb. 27, 2020, Worldpay released its 2020 Global Payments Report, which contained a comprehensive analysis of consumer payment trends across the globe. The report shows that mobile wallets are increasingly gaining traction among global consumers, changing how commerce is done.
In 2019, for instance, 22 percent of all in-store purchases were made via mobile, up 6 percent from 2018. The report predicts that 1 billion people will complete a mobile wallet or digital payment in 2020, and that by 2023, half of global e-commerce spending will be from these technologies. The report attributes the rising popularity of digital and mobile wallet payment technologies to a number of factors, including urbanization in emerging economies, higher global technological adoption, and the coming of age of Generation Z consumers.
Another interesting highlight from the report is the rapidly expanding adoption of Buy Now, Pay Later (BNPL) technologies, which allow users to make purchases with insufficient funds and pay off the balance later. BNPL is the fastest growing online payment option in the United Kingdom, France, the Netherlands, Brazil, and Australia, and it's expected to grow at a compound annual rate of 28 percent over the next five years.
On Feb. 27, 2020, Worldpay released its 2020 Global Payments Report, which contained a comprehensive analysis of consumer payment trends across the globe. The report shows that mobile wallets are increasingly gaining traction among global consumers, changing how commerce is done.
In 2019, for instance, 22 percent of all in-store purchases were made via mobile, up 6 percent from 2018. The report predicts that 1 billion people will complete a mobile wallet or digital payment in 2020, and that by 2023, half of global e-commerce spending will be from these technologies. The report attributes the rising popularity of digital and mobile wallet payment technologies to a number of factors, including urbanization in emerging economies, higher global technological adoption, and the coming of age of Generation Z consumers.
Another interesting highlight from the report is the rapidly expanding adoption of Buy Now, Pay Later (BNPL) technologies, which allow users to make purchases with insufficient funds and pay off the balance later. BNPL is the fastest growing online payment option in the United Kingdom, France, the Netherlands, Brazil, and Australia, and it's expected to grow at a compound annual rate of 28 percent over the next five years.
