What is the Impact of the COVID-19 Crisis on the Mobile Wallet Market?
As the world moves towards a cashless reality, growth bells ring for global mobile wallets market which is set to see an impressive growth from USD 675 bn in 2015 to USD 1602.4 bn by the end of the forecast period (2018). The ease of use and the fact that mobile wallets obliterate the need of carrying money, reducing chances of losing currency or theft, is one of the major reasons of the market driven forward. But, these are not just use by individuals. Financial institutions, multinational organizations, and merchants/retailers also use wallets for payments. In fact, retailers are projected to hold a 46.6% of share by the end of the assessment period as mobile wallets act as new channel of connecting with consumers. These remove the necessity of being physically present for the transaction to take place. Therefore, accessibility works for both individuals and businesses using the feature. A Consolidated Market in a Dynamic Vendor Landscape As per a Transparency Mark...