Tag: mobile wallet

Mobile wallets are electronic accounts that enable people to manage their bank accounts through their cell phones. Their working is based on the NFC technology. They are considered a revolutionary trend in the Digital Payments industry. One can make bill payments and online purchases, while on the go. Increased adoption of smartphones, tablets, and other mobile technologies has transformed the ways in which customers make payments. Java-enabled and internet-based phones were used sparingly before the advent of smartphones because their usage was limited to SMS and calling options. Carrier charges were high during that time, which had led to reduced usage of mobile wallet services. In recent times, high competition in the Telecom market and an increase in adoption of smartphones and value-added services have propelled overall market growth considerably.

Global Mobile Wallet Market 2016 report has Forecasted Compound Annual Growth Rate (CAGR) in 36.8% value for particular period, that will help user to take decision based on futuristic chart. Report also includes key players in global Mobile Wallet market.

The market report, titled Mobile Wallet Market 2016, is an analytical research done by QY Market Research study based on the Mobile Wallet market, which analyzes the competitive framework of the Mobile Wallet industry worldwide. This report “Worldwide Mobile Wallet Market 2016” build by the usage of efficient methodical tools such SWOT analysis, the Mobile Wallet industrial 2016 study offers a comprehensive evaluation worldwide Mobile Wallet market.

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About the Report

The latest report highlights the fact that mobile wallets eliminate the need to carry physical wallets while on the go. Mobile wallets ensure more security than cards or carrying cash, especially when traveling, and also offer many other benefits like remote locking, data encryption, memory protection and password control.

“With mobile wallets, the cash is stored on the mobile device, which bypasses the bank in the transaction and reduces the transaction failure rate significantly,”.

The Mobile Wallet market size is estimated in terms of revenue (US$) and production volume in this report. Whereas the Mobile Wallet market key segments and the geographical distribution across the globe is also deeply analyzed. Various Mobile Wallet market dynamics such as growth drivers, restrictions, and the future prospects of each segment have been discussed in detail. Based on that, the Mobile Wallet market report determines the future status of the market globally.

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Covered in this Report

This report covers the present scenario and the growth prospects of the Global Mobile Wallet market for the period 2015-2019. To calculate the market size, the report considers the total revenue generated from retail transactions. These transactions include mobile commerce transactions, mobile ticketing and purchase of mobile coupons, money transfer, and micropayments.

Global Mobile Wallet Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It also covers the market landscape and lists growth prospects. The report includes a discussion of the key vendors operating in this market.

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Furthermore, the report emphasizes the increased awareness about mobile wallets among consumers, which is expected to help sustain market projections through the forecast period. The average consumer is becoming savvier with regards to NFC, and other technology necessary for mobile wallet-based transactions.

“Increased awareness and the overall convenience of the technology is expected to increase the adoption of m-commerce, thus leading overall growth in the Global Mobile Wallet Market in the coming years,”

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The bank from the United Kingdom let it slip that the mobile payments service will be available in March.

U.K. bank, Barclays, has accidentally let it slip that Apple Pay is not just headed to its customers but that it is known exactly when it will be arriving and, according to the large financial institution, that will be in March.

The bank been the only major financial institution in the U.K. that hasn’t supported Apple’s mobile payments.

Customers at Barclays were the only ones with accounts at a large bank in the country that didn’t have the NFC technology based mobile payments from Apple Pay available to them. The service first became available last year in July, but the bank chose not to support those contactless payments for its iPhone carrying customers. However, the bank has now inadvertently provided confirmation that it will be arriving in March.

It was the CEO who accidentally let the release date of Apple Pay slip, when replying to an impatient customer’s email.

Ashok Vaswani, the CEO of Barclays, replied to an impatient customer’s email on January 12, giving confirmation that it would become possible to use an iPhone to complete mobile payments transactions within “60 to 75 days” of that time. That slip was all it took to provide a solid idea of when Apple’s mobile wallet would become available to customers of the bank as that is the only wallet app that is supported by the iPhone.

If Vaswani’s range of dates is accurate, it will mean that the iPhone’s mobile wallet will become available to Barclays customers at some point between March 13 and March 28. Still, despite the slip, the bank has yet to actually issue an official confirmation of the dates.

This will have Barclays joining Lloyds, Halifax, and every other large bank in the United Kingdom in offering Apple Pay to iPhone using customers. The reason for the delay in supporting the mobile wallet has not been offered by the bank. That said, it has been implied that there has been a disagreement between Apple and the bank with regards to the terms of supporting the service.