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Better Safety and Enhanced Profits for Vendors Expected in the Global Mobile Wallet Market: TechNavioThe perceived benefits of mobile wallets are boosting market projections in the Global Mobile Wallet Market, which is expected to grow at a CAGR of 36.8 percent from 2014-2019, says research firm TechNavio. About the Report The latest report by TechNavio highlights the fact that mobile wallets eliminate the need to carry physical wallets while on the go. Mobile wallets ensure more security than cards or cash, especially when traveling, and also offer many other benefits like remote locking, data encryption, memory protection and password control. "With mobile wallets, the cash is stored on the mobile device, which bypasses the bank in the transaction and reduces the transaction failure rate significantly," says Faisal Ghaus, Vice President of TechNavio. Furthermore, the TechNavio report emphasizes the increased awareness of mobile wallets among consumers, which is expected to help sustain market projections through the forecast period. The average consumer is becoming savvier with regards to NFC, and other technology necessary for mobile wallet-based transactions. "Increasd awareness and the overall convenience of the technology is expected to increase the adoption of m-commerce, thus leading overall growth in the Global Mobile Wallet Market in the coming years," says Ghaus. Key Information Covered in the Report:
TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the mobile wallet market: If you are interested in more information, please contact our media team at [email protected].
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