|By PR Newswire||
|January 8, 2014 02:54 PM EST||
DUBLIN, January 8, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/dn87k3/mobile_wallet) has announced the addition of the "Global Mobile Wallet Market Report 2013 - Industry Analysis, Size, Share, Growth and Forecast to 2018" report to their offering.
(Logo: http://photos.prnewswire.com/prnh/20130307/600769 )
The global increase in Smartphone penetration compounded with the widespread use of NFC (Near Field Communication) technology in the form of embedded tags is driving the mobile wallet market. Smartphones and associated applications are the fundamental requirement for mobile wallet technology that enables payment without the intervention of traditional banking channels.
The increasing demand for Smartphones, especially in the developing economies of the Asia Pacific region, is eventually resulting in the growing share of the mobile wallet industry globally. Transactions conducted using online payment require an active data connection, hence rise in mobile data usage is equally contributing to the growth of this market. There are a large number of consumers that are unbanked and do not have proper access to financial services provided by financial institutions, such as banks. Mobile wallets provide banking services and financial management at affordable prices and help consumers in managing their accounts. As a result, the mobile wallet industry is witnessing a boost in its revenue.
Mobile wallets are customizable and can be used for identifying user credentials during the process of online payments. Personal identification documents such as driving license, passport, and social security numbers can be verified with the help of mobile wallet, due to which this technology is enjoying considerable support from regulatory bodies. Mobile wallet facility can be integrated with the authentication programs to serve the dual purpose of authentication and mobile payments.
Initiatives from governments to encourage the use of mobile wallet is gaining momentum in emerging markets such as Philippines and Kenya due to the larger gap between bank and non-bank organizations. Financial inclusion is the crucial factor to reduce this gap which can be accomplished by agreements between governments, telecom companies and financial organizations.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Mobile Wallet Market, By Industry Participants
5 Mobile Wallet Market - By Components
6 Mobile Wallet Market - By Consumer Types
7 Mobile Wallet Market - By Functionality
8 Mobile Wallet Market, By Application
9 Mobile Wallet Market, By Geography
10 Competitive Landscape
- Amazon.com Inc.
- American Express Co.
- Google Inc.
- MasterCard Worldwide
- MCX (Merchant Customer Exchange)
- Microsoft Corporation Inc
- PayPal Inc.
- Square Inc.
- Visa Inc.
For more information visit http://www.researchandmarkets.com/research/dn87k3/mobile_wallet
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets
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