Half of the world will be using mobile wallets in 2025, study

Mobile wallets - person using mobile wallet

From 2020 through 2025, the transactions completed using these apps will break the $1 billion per year mark. A mobile wallets trend report was recently published, indicating that one in every two people in the world will be using this type of app by 2025. By the end of last year, 2.8 billion wallets were already being used by people around the world. Boku, the fintech behind the 2021 Mobile Wallets Report in a partnership with Juniper Research, estimated that the use of these smartphone-based payments will rise by almost…

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Mobile banking services help young people save their money

mobile banking services

A new Halifax Savings survey has shown that 18 to 24 year olds find it easier to save using digital tools. New research has revealed that four out of every five young adults find that online and mobile banking services are helping them to increase their balances and save their money in an effective way. The research also discovered that what is true for younger consumers is not the same for older ones. Among people between the ages of 18 and 24 years of age, 81 percent using their bank’s…

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Mobile banking sees 13 percent usage jump in Q1

mobile banking

The South Korean market has greatly expanded its use of these apps and services during the span of three months. According to data that has been released by the central bank in South Korea, mobile banking in that market has undergone a 13 percent increase in terms of its daily usage over the span of the three months that made up the first quarter of this year. This insight underscores the strength of the growing trend toward mobile device use for financial transactions. During the period running from January through…

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Mobile payments set to skyrocket in the US

mobile commerce wallet payments

Report predicts the promising future of mobile payments BI Intelligence has released a new report concerning the growth of mobile payments in the United States. The ability to make payments with mobile devices is becoming a very powerful force in the retail space. Consumers have long had the capability to shop for and purchase products online over the Internet using a mobile device, but these devices are also beginning to be used for in-store transactions. Companies like Apple, Samsung, Google, and PayPal are expected to lead growth in the mobile…

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Line launches mobile payments service globally

Apple virtual reality

Line has successfully updated its application to support mobile transactions Line, a popular messaging application, has launched its mobile payments system to all users around the world. The company has taken its first significant step into the mobile commerce space, which it has been showing interest in for some time now. This puts Line into direct competition with companies like PayPal, Apple, Google, and Alibaba, all of whom have their own mobile payment services that are available to consumers. Developers of messaging apps are turning their services into mobile commerce…

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