Global Mobile Wallet (NFC, Digital Wallet) Market Share and Forecast, 2018

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Mobile wallet is a technology where debit and credit card information can be stored in the smart phone. In the other words instead of keeping the physical cards, one can just pay the bill with the help of the smart phone where the credentials of bank details, card and internet banking information is stored.
North America prevails over another region on account of its shift towards a digital economy. Europe is also showing robust mobile wallet market growth rate, followed by the Asia Pacific. Asian countries show high growth potential due to the adoption of smart phones.At present, in the UK more than 88% of consumer payments are made via cashless modes. In the U.S. 80% of the consumer are using online payment. Governments are supporting mobile wallet and have implemented policies to move their countries to cashless economies.
In the Asia Pacific, Japan, China and India are moving towards cashless countries. There is a high growth opportunity for mobile wallet due to increased adoption of the smart phone in this region. In India, after demonetization, online payment transfer has been increased drastically. Government supports the cashless country and digital country and such initiatives will fuel the growth of mobile wallet market.  A company like paytm & freecharge revenue has doubled recently. All the countries are supporting online wallet payment which will help to track all type of transaction and lower the black money transactions.
The key players covered in this study
    MasterCard
    Apple
    Amazon
    Square
    Citibank
    Citrus Payment
    Dwolla
    Merchant Customer Exchange
    Visa
    Microsoft
    Sprint
    First Data
    Paytm
    Samsung
    Google
Market segment by Type, the product can be split into
    Hardware
    Software
    Services

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