Category: Mobile Payments

Americas Market Intelligence Releases 2017 Latin American M-Commerce Report

Miami, January 10, 2017— Americas Market Intelligence—the premier strategic market intelligence firm for Latin America—has published a free report covering key data and developments regarding mobile commerce in Latin America.

“While e-commerce is expected to grow powerfully in Latin America over the next few years, what’s less well-known is that LatAm m-commerce is projected to grow at double the rate of e-commerce in key Latin American markets,” explains Lindsay Lehr, Senior Director, Payments Practice, Americas Market Intelligence. “With that in mind, in this report we explored mobile commerce in the region with key attention to payments issues and included case studies that could provide some helpful guidance,” says Lehr.

Entitled M-Commerce in Latin America: Under Digital Transformation, the report is available on AMI Perspectiva, the blog for AMI, along with whitepapers and reports on other related topics such as LatAm payments and Brazilian e-commerce.

About Americas Market Intelligence
Americas Market Intelligence (AMI) is the premier market intelligence company for Latin America, providing powerful insights for companies to succeed in a wide range of verticals in the region, including payments, healthcare, logistics, resources/infrastructure, Cuba, consumer and more. Its customized research reports deliver data-based clarity and granular strategic direction based on expert sourcing.

Indian mobile wallet market will be 190 percent bigger by 2022

The country’s effort to go cashless has led to an unprecedented growth in smartphone digital payments.

A new study predicted that the Indian mobile wallet market will experience a growth rate of more than 190 percent by fiscal year 2022. The forecast was made as a result of research conducted by Assocham, a trade organization, and RNCOS, a business consulting firm.

The prediction was that mobile payment transactions are likely to reach a CAGR of over 160 percent per year.

That rate will continue to increase from the current fiscal year through to 2022. At that time, the mobile wallet market will be worth 250 billion, said the prediction. That is a substantial increase over the current size of the market which is estimated to be just over half a billion.

The report on the forecast suggested that there are several reasons that the use of mobile payments in India is growing exceptionally quickly. To start, e-commerce as a whole is on the rise. This is a trend occuring worldwide. Moreover, mobile internet penetration is also growing rapidly, meaning that more consumers have access to these options than ever before.

That said, the mobile wallet market is rising faster in India than in most other areas of the world.

Mobile Wallet Market With rising smartphone penetration, the Indian environment is also aligning well for mobile wallet use in a way that is not being experienced in other areas of the globe. For one thing, there is an increase in disposable incomes. More people have money to spend on areas outside of vital essentials.

With all these factors combined with the country’s efforts to reduce the use of cash, people are turning to their phones to pay for products and services. This is, after all, a country that is greatly unbanked and in which it is not necessarily commonplace to have credit cards. Therefore, when cash is not an option, people are turning to the option they already have in their hands: mobile phones.

This has created a nearly ideal opportunity for mobile wallet market growth and it appears as though this will continue for at least another five years.