Mobile wallets are electronic accounts that enable people to manage their bank accounts through their cell phones. Their working is based on the NFC technology. They are considered a revolutionary trend in the Digital Payments industry. One can make bill payments and online purchases, while on the go. Increased adoption of smartphones, tablets, and other mobile technologies has transformed the ways in which customers make payments. Java-enabled and internet-based phones were used sparingly before the advent of smartphones because their usage was limited to SMS and calling options. Carrier charges were high during that time, which had led to reduced usage of mobile wallet services. In recent times, high competition in the Telecom market and an increase in adoption of smartphones and value-added services have propelled overall market growth considerably.
Analysts forecast the Global Mobile Wallet Market to grow at a CAGR of 36.8 percent over the period 2014-2019.
This report covers the present scenario and the growth prospects of the Global Mobile Wallet market for the period 2015-2019. To calculate the market size, the report considers the total revenue generated from retail transactions. These transactions include mobile commerce transactions, mobile ticketing and purchase of mobile coupons, money transfer, and micropayments.
Global Mobile Wallet Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It also covers the market landscape and lists growth prospects. The report includes a discussion of the key vendors operating in this market.
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- Citrus Payment Solutions
- First Data
- One97 Communications
- Oxigen Services India
Other Prominent Vendors
- Airtel Money
- American Express
- Bank of America
- Tata Teleservices
- Zip Pay
- Benefits of Mobile Wallets
- Infrastructure Inadequacies
- Increased Awareness of Mobile Wallets
Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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