According to a new market report published by Acute Market Reports “Mobile Wallet Market (By Application (Mobile Commerce, Money Transfer, Mobile Recharge, Utilities, and Bill Payments, and Other Applications), By End-use Application (Retail, Transportation, Restaurants, Utilities, Telecom, and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 – 2028”, the global mobile wallet market is expected to witness a double-digit CAGR during the forecast period 2020 to 2028.
Browse the full Mobile Wallet Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2018 – 2028 report at https://www.acutemarketreports.com/report/mobile-wallet-market
Market Insights
The mobile wallet technology is touted to be the next-generation technology in the era of cashless transactions, replacing traditional plastic cards. Mobile wallets are capable of storing the information and details of credit/debit cards, enabling customers to pay at NFC-based POS terminals using their mobile phones. The advancements in technology and continuous efforts by the global payments industry to improve security have ensured the growing popularity of mobile wallets. In addition, ease of use and less time required for making payments has ensured increased penetration of the technology. In a bid to achieve greater transparency in the financial ecosystem, the governments across the globe are promoting cashless transactions, which, in turn, is having a positive impact on the overall market demand.
Competitive Insights:
The important participants across the entire mobile wallet ecosystem include technology developers, Mobile Network Operators (MNO), equipment manufacturers, value-added service providers, merchants/retailers, financial/bank institutions, and other consumers. The global mobile wallet market is highly technology-driven. Thus, the competitive rivalry among market players is high and expected to remain the same throughout the forecast period 2020 – 2028. Some of the leading players identified in the global mobile wallet market include Apple, Inc. (the U.S.) Google, Inc. (the U.S.), PayPal Holdings Inc. (the U.S.), Visa Inc. (the U.S.). Other players including MasterCard Inc., First Data Corporation, , The American Express Company, AT&T, Inc., Citrus Payment Solutions, ZipCash, and ZipPay are identified as promising and emerging players in the global mobile wallet market.
Key Trends:
