The global market for mobile wallets will reach US$2.7tn by 2020, “driven by the proliferation of smartphones, tablets, mobile internet, strong governmental support for cashless transactions and the convenience offered by mobile payments,” Global Industry Analysts says. “Asia Pacific represents the largest market, with a CAGR of 33% over the analysis period,” it adds. “The retail sector represents the largest end-use for mobile wallets.”
- Square arrives in the UK
- Nordic banks roll out first mobile payment services with support for Dankort
- Boston Fed calls for clearer value proposition to encourage mobile payments
- Apple Pay to launch in Taiwan on March 29?
- Wells Fargo to add NFC mobile withdrawals to ATMs later this year