The growing penetration of smartphones is driving the growth of the mobile wallet market. During the last decade, there has been a rapid increase in the adoption of smart devices. There were more than 2.26 billion smartphones worldwide in 2017. It is estimated that by 2025, smartphones will represent more than 77% of Internet-enabled devices. As the adoption of smartphones increases, the trend of using financial services on mobile devices is also gaining momentum due to convenience and profitability. This has encouraged financial institutions and technology players to meet the growing demand for mobile applications to offer paid services.

The rise of several e-commerce platforms is also driving the growth of the electronic wallet market. As of 2018, more than 1.5 billion customers bought online. By 2020, the number of online customers is expected to reach more than 2.5 billion. With the evolution of global electronic commerce and an increase in Internet coverage worldwide, the ways in which consumers pay for their products have also evolved. Consumers want to buy things they like from anywhere in the world quickly, effectively and simply. This promotes the use of mobile wallets on various e-commerce platforms.

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It is estimated that the closed Mobile Wallets market will grow at a compound annual rate of over 20% during the projected time period. The increasing investments of e-commerce players to launch their own mobile wallets are promoting the use of closed mobile wallets. E-commerce players build their own closed mobile wallets to increase customer loyalty and promote repeat purchases. E-commerce vendors are offering various refunds and lucrative discounts that encourage customers to store money in their mobile wallets.

Some of the important players from a wide list of coverage used under bottom-up approach are PayPal (United States), MasterCard (United States), American Express (United States), Apple (United States), Bank of America (United States), Amazon (United States), Citrus Payment Solutions (India), WorldPay (United States), AT&T Inc. (United States), Visa (United States).

By Wallet Type

Device Centric

Merchant Centric

Network Centric

Others

By Payment Mode

NFC

Remote Payment

By Application

Mobile Commerce

Mobile Transfers

Micropayments

Others

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Table of content

Chapter 1 Global Mobile Wallets Market Overview

Chapter 2 Global Economic Impact on Mobile Wallets Industry

Chapter 3 Global Mobile Wallets Market Competition by Manufacturers

Chapter 4 Global Mobile Wallets Production, Revenue (Value) by Region (2012-2018)

Chapter 5 Global Mobile Wallets Supply (Production), Consumption, Export, Import by Regions (2012-2018)

Chapter 6 Global Mobile Wallets Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Mobile Wallets Market Analysis by Application

Chapter 8 Mobile Wallets Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

To continue ….

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