The global banking and payments industry experienced a 17% drop in new job postings related to mobile payments in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 26% decrease versus Q2 2022. GlobalData’s Mobile Payments – Thematic Research report explains the impact of mobile payments on the broader payments sector by identifying key trends such as open banking, the leading companies and providing a comprehensive market overview for mobile payments. Buy the report here.
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Notably, Office and Administrative Support Occupations jobs accounted for a 30% share of the global banking and payments industry’s mobile payments-related total new job postings in Q2 2023, down 18% over the prior quarter.
Office and Administrative Support Occupations drive mobile payments-related hiring activity
Office and Administrative Support Occupations, with a share of 30%, emerged as the top mobile payments-related job roles within the banking and payments industry in Q2 2023, with new job postings drop by 18% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 18% in Q2 2023, with new job postings dropping by 6% over the previous quarter.
The other prominent mobile payments roles include Sales and Related Occupations with a 13% share in Q2 2023, Management Occupations with a 11% share of new job postings.
Top five companies in banking and payments industry accounted for 76% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were Wells Fargo & Co, Visa, Bank of America, Canadian Imperial Bank of Commerce, and Desjardins Group. Together they accounted for a combined share of 76% of all mobile payments-related new jobs in the banking and payments industry.
Wells Fargo & Co posted 4,152 mobile payments-related new jobs in Q2 2023, Visa 1,986 jobs, Bank of America 983 jobs, Canadian Imperial Bank of Commerce 646 jobs, and Desjardins Group 361 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 70.67% share of total new job postings, Q2 2023
The largest share of mobile payments-related new job postings in the banking and payments industry in Q2 2023 was in the US with 70.67% followed by Canada (9.15%) and India (5.51%). The share represented by the US was 21 percentage points higher than the 49.93% share it accounted for in Q1 2023.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
