Mobile Wallet Market (Applications, Mode of Payment, Stakeholders and Geography) Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 –
2020
Mobile wallet is a system that allows consumers to pay by phone during travel,...
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Mobile Wallet Market (Applications, Mode of Payment, Stakeholders and Geography) Global Share, Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2012 –
2020
Mobile wallet is a system that allows consumers to pay by phone during travel, from any
location, anytime. The global mobile wallet market is expected to grow at a CAGR of 12.5%
from 2012 to 2020. The key driver for the growth of the market is it to provide consumers with
greater convenience for payment. It is estimated that more than 70% Smartphone users are
willing to adopt mobile payment modes and 15% have already completed the adoption.
However, the payment method can be used till the mobile has power and battery backup.
Therefore, when the battery of the mobile is down, the mobile wallet cannot be used. This is one
of the key restraints for the growth of the market. Smartphone users have multiple applications
on their phones which consume power and the chances of battery outages are high. This limits
the usa
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