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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Major credit card networks team up for easier mobile shopping

Easier mobile shopping - credit cards

Shopping via mobile is about to become more convenient. Visa Inc., Mastercard Inc., American Express Co. and Discover Financial Services are part of the world’s biggest card networks that have come together to make easier mobile shopping with credit cards a reality for smartphone users. Mobile shoppers abandoning their online cart costs retailers billions. While there are many convenient ways to pay when shopping via mobile, up until now, credit cards haven’t been one of them. In fact, imputing credit card details on tiny mobile screens causes many mobile consumers…

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Bangladeshi Visa QR code payment solution launching in October

Visa QR code payment - Visa Cards

The credit card giant will be rolling out transactions via quick response code and contactless tech. Visa QR code payment solutions are slated to roll out in Bangladesh by October. The global payment provider has also announced that it will simultaneously roll out contactless payments. Almost 20 banks have already submitted their applications to be able to participate. The Visa QR code payment and contactless payment service have proven to be highly popular among banks. There have already been nearly 20 banks applying to be able to incorporate the new…

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Mobile payments growth gap barely there between millennials and older generations

visa mobile payments growth

Visa has been taking aim at Singapore for the creation of a cashless society, with surprising findings. Visa’s effort to turn Singapore into a cashless society has centered heavily around promoting mobile payments growth. The credit card giant recently released its Consumer Payment Attitudes Survey 2016, revealing some unexpected data. It came as little shock that Singaporeans are embracing mobile payment transactions for many purchases. Singapore mobile payments growth has been greatly driven by the willingness of the people to use their smartphones for on demand services as well as…

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Visa QR codes rolled out in Taiwan smartphone payments system

visa qr codes mobile payments

The quick response codes are used to make the transactions fast and easy to complete. The largest credit card company in the world will be launching a mobile payments system in Taiwan based on Visa QR codes. Local media reports have stated that the quick response codes will be central to transactions completed in the mobile wallet. Visa stated that it intends to use QR codes because they can be scanned by virtually any smartphone. By using Visa QR codes, the mobile payments have a much more universal accessibility. Many…

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