According to a report, one in two people across the globe
will use a mobile wallet by 2025. There
are several factors contributing to the growth of these payment solutions.
One of them is ease of access. Many consumers in emerging markets, especially
younger ones, are opting for the settlement
methods. This is because they allow them to conduct financial transactions
without difficulty. Another reason is displacement. With the shift in commerce,
mobile wallets are displacing cash, bank transfers and card
transactions. Since more people are shopping online, they are looking for more
convenient and secure payment facilities.
Photo credit: kaboompics from Pixabay
Mobile
wallets are more convenient
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