1 in 5 handsets will have mobile wallet functionality by 2018

The new report from Juniper Research “Mobile Wallets: Strategies for Developed and Developing Markets 2014-2019” predicts significant growth in mobile wallet popularity: one in five mobile handsets will have mobile wallet functionality by 2018, against less than one in ten at the end 2013.

Among the payment methods, the growth is predicted to be driven especially by SVAs (Stored Value Accounts) in emerging/developing markets, which are increasingly enabling first time financial access for unbanked individuals, along with a rise in deployments across sub-Saharan Africa, developing Asia and Latin America.

The report also presents that mobile wallet profile would also be boosted via high-profile P2P (Person to Person) payment initiatives, as indicates Windsor Holden, author of the survey.

Meanwhile, the report points out that wallet launches across North America and Western Europe are increasingly expected to feature contactless payment functionality.

About allpago international

allpago international provides a full-spectrum of payment services in the LATAM region. allpago works as a payment gateway, a white label payment service provider (PSP) or a product and service reseller for merchants and payment service providers interested in the LATAM markets.

allpago’s features include one-click payments, recurring payments, instalments, dynamic descriptor and mobile payment solutions. The company’s html 5.0 code allows multiscreen and is as easy to implement into the store through the “plug and pay” feature. Furthermore, the company offers a fully integrated Risk Management Solution with more than 70 checks. allpago has recently become the first LATAM payment solution provider of the Merchant Risk Council (MRC).

Current clients include Art.com, Busuu.com, McAfee, Teamviewer, Twoo.com and many other leading payment or digital companies from various sectors.

Reference:

http://www.juniperresearch.com/viewpressrelease.php?pr=446

http://www.bizreport.com/2014/05/mobile-wallets-in-1-in-5-handsets-by-2018.html

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