Finance: mobile wallets are the future of payments

A while back, mobile wallets were a niche service in the world of finance. These innovative payment solutions were reserved for tech-savvy customers. That is no longer the case! Now, they are considered to be the future of digital settlements and this is demonstrated by its growth across the past five years. According to a report, in 2017, mobile wallet spending increased by over 30 percent to reach $1.35 trillion. Estimates reveal that this figure will jump to nearly $14 trillion by 2022. This means that more purchase will be made via mobile devices in the coming years.

More expenses will be processed via mobile devices