Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing
Site Menu
More
User Menu
More
Mention Me
ProSKU
Beetle
IRUK Top500 The Customer Report: 2018

IRUK Top500 The Customer Report: 2018

You are in: > Home > Themes > Mobile

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

Mobile wallets in 1 in 5 handsets by 2018, Juniper Research predicts

Linked InTwitterFacebookeCard
Mobile wallets in 1 in 5 handsets by 2018, Juniper Research predicts
Mobile wallets in 1 in 5 handsets by 2018, Juniper Research predicts
O2 may have closed its wallet down and Google Wallet may be struggling to get off the ground, but one in five mobile handsets will have mobile wallet functionality by 2018 – against less than 1 in 10 at the end of last year – predicts Juniper Research.

The report – Mobile Wallets: Strategies for Developed and Developing Markets 2014-2019 – found that growth would be driven by two distinct wallet models. In emerging/developing markets, SVAs (Stored Value Accounts) are increasingly enabling first time financial access for unbanked individuals, and the report anticipated a surge in deployments across sub-Saharan Africa, developing Asia and Latin America.

Meanwhile, the report suggests that wallet launches across North America and Western Europe are forecast to receive a boost both from the anticipated launch of an Apple iWallet later this year and through HCE (Host Card Emulation)-based NFC (Near Field Communications) services.

According to the report, more than 1 in 3 mobile wallets – and over 50% of wallets in developed markets – will featuring contactless payment by 2018.

The report also claimed that the mobile wallet profile would be bolstered through high-profile P2P (Person to Person) payment initiatives, such as the UK's Paym, which will be integrated into customers' existing mobile banking or payment apps as an additional way to pay. At the same time, it argued the mobile P2P market in the US was being driven by a number of start-ups -- including Venmo and Dwolla -- targeting younger demographics.

According to report author Dr Windsor Holden: "While P2P mobile payment services have struggled to gain traction in developed markets, financial institutions are keen to commit to them as they can serve as an attractive value-add to consumers in an increasingly cashless society."
Linked InTwitterFacebookeCard

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter