Lewes, DE -- (SBWIRE) -- 09/01/2016 -- Report forecast the global mobile wallet market to grow at a CAGR of 34.58% by revenue, during the period 2016-2020.

Mobile wallets are electronic money accounts that can be maintained and used via cell phones and other mobile devices. These wallets help account holders pay bills or purchase goods online. Often, companies give offers and discounts to encourage customers to use these apps. Mobile wallets are based on technologies, such as near-field communication (NFC), and have revolutionized the digital payments market. There has been a rise in the number of point of sale (POS) terminals worldwide since the advent of this technology.

The report covers the present scenario and the growth prospects of the global mobile wallet market for 2016-2020. To calculate the market size, the report considers the revenue generated from retail transactions sourced through mobile wallets.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the key drivers will be high transaction volumes through m-commerce. Rise in demand and use of m-commerce is witnessed due to growing number of smartphone users and high Internet penetration worldwide. Mobile wallets are increasingly being used for transactions in m-commerce. The advantages of m-commerce include easy access to a product without any time and location constraints, flexible and easy payment services to clients, and enhanced brand recall value, which should benefit vendors in the long-run.

Further, the report states that infrastructure inadequacies in developing countries will be a challenge for the market. The lack of infrastructure, such as limited number of POS terminals, has led a block in communication. Mobile wallet is a relatively new concept, and the confidence level of customers is vital for success. Therefore, it is important for top vendors to enhance the customer experience and confidence through different strategic models that operate on online payment methods.

Global Mobile Wallet Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global mobile wallet market: Apple, Google, PayPal, and Visa.

Other Prominent Vendors in the market are: Airtel Money, Alipay, American Express, Bank of America, Citibank, Citrus Payment Solutions, Dwolla, First Data, LevelUp, LivQuik, MasterCard, MCX, Mobikwik, Vodafone, One97 communications, Oxigen, Softcard, Square, Starbucks, Tata Teleservices, Venmo, Y-Cash Software Solutions, ZipCash, and ZipPay.

Market driver
- High transaction volumes through m-commerce
- For a full, detailed list, view our report

Market challenge
- Infrastructure inadequacies in developing countries
- For a full, detailed list, view our report

Market trend
- Rise in mobile Internet users
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 55 pages and 23 Exhibit "Global Mobile Wallet Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-mobile-wallet-market-2016-2020

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