HAMPSHIRE, U.K.—Will 2019 finally be the year in which mobile wallet usage takes off?
A new Juniper Research study has found that nearly 2.1 billion consumers worldwide will use a mobile wallet to make a payment or send money in 2019, up by nearly 30% on the 1.6 billion recorded at the end of 2017, reported Mobile Payments Today.
“PayPal, which has begun offering contactless payments in store in the U.S., had the greatest opportunities to develop a converged wallet on a worldwide basis, closely followed by China's Alipay,” Mobile Payments Today said.
The report also argued that while QR code-based in-store payments had seen astonishing levels of adoption in China, successful use cases in Europe and North America were likely to be limited to 'closed-loop' wallets such as those deployed by Starbucks and Walmart, Mobile Payments Today said.