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The mobile wallet is a type of payment service by which anyone can receive and send money via mobile devices. A mobile wallet is a form of e-commerce model that is made to be used with mobile devices and offers convenience and easy access. It provides service of the online transaction for every single operation in a routine. Mobile wallet offers various facilities such as debit, credit and online transaction from a bank account. A growing number of tablet computer and smartphone users has significantly created the platform for mobile wallet companies to penetrate the global market.
Mobile Wallet Market: Drivers and Analysis
The global mobile wallets market is expected to be primarily driven by factors such as trending offers and promotional activities by market players. Furthermore, an increasing number of Smartphone users and customer shift towards electronic money are anticipated to boost the demand for mobile wallets worldwide. Additionally, as high transaction volumes through m-commerce are contributing to the growth of the mobile wallets market. However, the growth in global mobile wallets market is likely to be hampered by factors such as Security concerns among consumers, the lack of awareness in emerging markets and government support for cashless transactions and electronic money to encourage the transparency of financial transactions is augmenting the market size of the mobile wallet. Moreover, the mobile wallet makes customer communications highly personalized, and connected and real-time marketing offers that is projected to create several opportunities in this market during the forecast year
Mobile Wallet Market: Regional Analysis
Among the geographies, North America holds the maximum market shares in the mobile wallets market followed by Europe. The growing shift towards the digital economy and high Internet penetration are the key factors that drive the growth of the North America mobile wallets market. Europe is also showing a robust growth rate, followed by The Asia Pacific. The Asia Pacific is the fastest growing region in the mobile wallets market. The counties in this region show high growth potential due to the adoption of smartphones and growing preference for the online transactions
Mobile Wallet Market: Competitive Landscape
The report provides profiles of the companies in the market such as American Express Company, Apple Inc., AT&T Inc, BlackBerry Limited, First Data Corporation, Google Inc., Samsung Electronics Co., Ltd., MasterCard Incorporated, Visa Inc., Sprint Corporation, and Other companies.
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