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Zion Research has published a new report titled “Mobile Wallet (NFC and Remote Payment) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for mobile wallet market was valued at USD 500 billion in 2014 and is expected to reach USD 2,500 billion in 2020, growing at a CAGR of approximately 30% between 2015 and 2020.

Mobile wallet is a innovative technological feature that is equivalent to the physical wallet used to hold money. It is an online interface which permits the user to deposit money similarly to the bank account. Therefore, it is essential to have an account with a mobile wallet provider. This account holds debit, credit, online transaction from bank account or via cash (a recharge kiosk). The mobile wallet is very beneficial as it offers the fast transactions process, it saves time and provides comfort and ease to the end-user.

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The mobile wallet market is mainly driven by the growing demand for the smart phones use and the entry of new players in this market. Another major driving factor is increasing working population engaged in the banking and on-line buying of products, discounts offered by companies to draw in customers in festive seasons for purchase through mobile wallet and growth of service portfolios by the enterprises. Owing to this, mobile wallet market is expected to exhibit strong growth during the years to come.

The mobile wallet market is segmented on the basis of different types of mobile wallet products such as near field communications NFC and remote payment. The NFC dominated the market with over 50% share in total revenue generated in 2014 and is expected to be the fastest growing segment over the forecast period.

Browse the full “Mobile Wallet (NFC and Remote Payment) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020″ report athttp://www.marketresearchstore.com/report/mobile-wallet-market-nfc-and-remote-payment-z37621

The mobile payment mode dominated application segment and were accounted for large chunk of the mobile wallet market in 2014. Furthermore, the OSS/BSS solution providers are expected to witness the fastest CAGR during the forecast period. This is attributed to the constant improvement of mobile wallet in NFC technology. Moreover, the money transfer transactions contributed to the largest share accounted for over 30% of share in total revenue generated in the mobile wallet market, followed by recharge & bill payments and utilities segment respectively.

North America dominated the mobile wallet market and accounted for over 25% share of the total revenue generated in 2014. The mobile wallet market in the Asia Pacific region is expected to exhibit strong growth in the years to come. Despite its promising future, the mobile wallet market segment is facing challenges like different cash transfer channels, lack of awareness, stringent policies, low margins and poor web connectivity in several areas.

Some of the key industry participants in global mobile wallet market include, American Express, Apple Inc., MasterCard, Visa, AT&T, Sprint, First Data, BlackBerry, Samsung, Google and others.

The report segments the global mobile wallet market as:

Mobile Wallet Market: Product Segment Analysis

• Near field communication (NFC)
• Remote payment

Mobile Wallet Market: Application Segment Analysis

• Retail payments
• Vending machines
• Public transportation
• Grocery stores
• Restaurants

Mobile Wallet Market: Regional Segment Analysis  

• North America
  • U.S.
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East & Africa

Browse Global Mobile Wallet Market Press Release:http://www.marketresearchstore.com/news/mobile-wallet-market-set-for-rapid-growth-to-88

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Lookout has now uncovered a malware that pretends to be any of a range of very popular apps.

Lookout, a mobile security company based in San Francisco, has announced that it has discovered a new type of malware threat to devices running on the Android operating system.

This time, it is a form of malware that disguises itself as certain trusted and well-known applications.

Unfortunately, it actually opens the user up to a considerable mobile security risk as it exposes the device to root attacks. Moreover, once it has made its way into the gadget, it is nearly impossible to remove. Though this doesn’t affect people who download their applications from Google Play, it has been discovered in mobile apps that can be downloaded through third-party app stores. Among the titles the malware pretends to be includes: Facebook, Twitter, Candy Crush, Snapchat, WhatsApp and Google Now.

There were around 20,000 instances of this mobile security threat isolated by Lookout in its research.

As the versions of these popular mobile apps that are infected by the malware have been discovered exclusively in third-party app stores, the firm has stated that people who download exclusively from Google Play can more than likely assume that they are free of this infection.

What makes this mobile malware even more challenging is that the majority of the infected applications still work in the exact same way as the legitimate versions. Therefore, it becomes exceptionally difficult – if not impossible –for a regular user to be able to detect the infected ones and therefore, to know which ones to uninstall. Moreover, when root access to a mobile device has been obtained by way of the malware, the app can automatically download and can fully intertwine itself into the operating system.

This makes it very difficult for an expert to delete it and essentially impossible for an untrained user to remove it. Once the infected app becomes activated, it pushes ads into the device of the user and poses a mobile security threat. Lookout explained that it continues to operate in the background and cannot be uninstalled by the majority of users, either forcing them to buy new devices or to have to take the gadgets to IT professionals to have the malware removed.