Mobile wallet market to break $16.2 trillion by close of 2031

Mobile wallet - Payments via smartphone

The world is moving evermore cashless, and consumers are turning to their phones for payments. As a growing number of countries worldwide trend toward cashlessness, the mobile wallet market worldwide is seeing striking growth. Even before the pandemic, it was already taking off, but contactless trends sent its use skyward. In 2015, the mobile wallet market was valued at $675 billion. By 2018, it had already risen to 1602.4 billion, and the number has only continued to climb. Among the factors that have helped to drive the use of payments…

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MasterCard will be bringing mobile payments to Indonesian consumers

Indonesia Mobile marketing

According an Asia-Pacific region rep for the leading global payment processing service and credit card company, MasterCard, the company has intentions to create a new form of retail systems that will allow payments to be made using smartphones. Group head of emerging payments in the Middle East, Africa, and Asia Pacific for MasterCard Worldwide, Phillip Yen, Indonesia is expected to be one of the top mobile payment markets. They believe that the popularity of this technology could be greater than the standard plastic credit and debit cards, “so we could…

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