DUBLIN, Feb. 23, 2023 /PRNewswire/ — The “Mobile Wallet and Payment Technologies: Global Markets” report has been added to ResearchAndMarkets.com’s offering.
The market for mobile wallets and payment technologies is shifting toward digitization and expanding options for customers for online transactions and cashless payments. The rapid surge in the adoption of intelligent devices such as smartphones, growing internet penetration and rising government initiatives to develop smart cities in many countries fuels demand for mobile wallets and payment technologies, globally. Increasing acceptance of mobile wallet payments and offers provided by key market players, along with government initiatives and regulations, will enhance the growth of mobile wallet payments across end-use industries.
Mobile payments are transactions through an individual’s bank account, debit card or credit card. Mobile wallet payments are processed through a mobile wallet account. The key objective of the mobile wallet is to provide a user with an electronic wallet where all the contents of a real wallet (cash and cards) are electronically available at any time and anywhere.
The rapid extension of the e-commerce industry is a major factor driving market growth. In recent years, more than half of the world’s internet traffic came from mobile devices (smartphones, tablets and PCs). The main reason for the rising demand and growth of the e-commerce industry is convenience. Slower adoption of contact-free payments, fraud and risk of a breach are expected to hinder the growth of this market.
In this report, the global market for mobile wallet and payment technologies was segmented by wallet type, mode of payment, application, stakeholder and region.
For more information about this report visit https://www.researchandmarkets.com/r/yw1xpx-wallet-and?w=5
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