According to predictions, mobile wallets will experience a CAGR of over 15% by 2024. The
expansion of these payment services is due to
investments by financial players in this technology. Various firms are
investing in open mobile wallets that allow consumers to purchase products and
services at several locations through a centralised infrastructure. Moreover,
the telco
industry is also expected to grow at a CAGR of over 10%. This is encouraging
banking institutions to develop
innovative systems that will satisfy customers’ needs.
The
mobile wallet market is very competitive
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