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The Mobile Payment Evolution

How was the idea of electronic payment born and how did it evolve over time? Here are the key stages of an epical change matured in 25 years of history.

From the time that human beings needed a way to purchase something that was useful or necessary.
He started implementing the “exchange method” and continued over time using things such as coins of shells, stones, and animal skins; He then went to coins, gold coins, dollars, credit cards, and last but not least, he also discovered electronic payments.

But how has electronic payment evolved?

Here is a brief historical excursus about the evolution of this innovative method that is rapidly changing the market.

1983

David Chauman, an American cryproducer, began working on creating a digital case by inventing an algorithm. This was the beginning of the crypt-currency.

1994

This year's first online purchase was made: a pepperoni and mushroom pizza from Pizza Hut!

1998

This year PayPal was founded.

1999

Thanks to Ericsson and Telnor Mobil, mobile phones were being used to purchase movie tickets.

2003

This year 95 million users have made a purchase via smartphones.

2008

The Bitcoin was born in this year, an electronic coin whose inventor is known under the pseudonym Satoshi Nakamoto.

2011

The year when Google Wallet came to light.

2014

Apple Pay was launched this year.

2015

The birth year of Android and Samsung Pay.

2017

This year is not over yet, though 60 billion dollars of mobile payment sales are estimated.

2020

It is estimated that 90% of smartphone users will make a mobile payment.

Smartphone payments are rapidly evolving thanks to mobile technology that allows customers to make payments through App easily, safely and quickly.
According to Business Insider, the Mobile portfolio is largely popular among Millennials, for three main purposes:

  1. Check their expenses regularly;
  2. Benefit from special offers and loyalty programs;
  3. Take full advantage of the App Features.

Smartphone payments are the future and GuideMii is ready to offer you a business-friendly solution with your own tailor made App. Contact us and we will give you a personalized advice to guide you in the right direction!