Saturday, August 13, 2022
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result

Digital wallet spend to exceed $10tn globally 

Ehime Alex by Ehime Alex
January 25, 2021
in Front Page, INNOVATION
0
Digital wallet spend to exceed $10tn globally
0
SHARES
101
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

Total spend via digital wallets will exceed $10tn globally in 2025, a new study from Juniper Research has shown. 

The wallets, which was up from $5.5tn in 2020 with a dramatic 83 per cent growth, would be fuelled by the heightened adoption of digital payments during the pandemic, the research found.

READ ALSO

How IoT boosts customer satisfaction in transport sector

Entrepreneurship is rugby, not tennis

The new research, ‘Digital Wallets: Key Opportunities, Vendor Analysis and Market Forecasts 2021-2025 Market Research,’ identified that wallets were becoming increasingly capable of both contactless and remote payments.

Read Also:

  • Air cargo performance dips as Russia-Ukraine war rages
    Air cargo performance dips as Russia-Ukraine war rages
  • How IoT boosts customer satisfaction in transport sector
    How IoT boosts customer satisfaction in transport sector
  • Financial prudence amid inflation, rising transport costs
    Financial prudence amid inflation, rising transport costs

In 2025, contactless and eCommerce payments will account for 50 per cent of total wallet spend, from just under 36 per cent in 2020, “making these the high-priority areas where wallet providers need to maximise their merchant networks.”

The report also found that the rapid growth in digital wallets availability, coupled with rising adoption, has left merchants with difficult decisions around acceptance, identifying integration costs for multiple wallets as challenging for merchants.

Research co-author, Alexandria Sadler, explained, “Merchants must base their payment strategies around wallet acceptance in order to support a digitally-engaged addressable market, but must also judge the right wallets to target, or they will be lumbered with increased costs and limited benefits.”

The research further found that the increased use of contactless mobile payments during the pandemic, prompted by concerns around cash, seeded greater wallet use across the payments’ ecosystem.

It added that contactless adoption would rise with over 34 per cent of mobile phones set to use contactless payments in 2025, up from 11 per cent in 2020.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: Digital wallet spendJuniper ResearchMarket Forecasts

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Ehime Alex

Ehime Alex

Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

Related Posts

How IoT boosts customer satisfaction in transport sector
CONSUMER PERSPECTIVE

How IoT boosts customer satisfaction in transport sector

August 13, 2022
Entrepreneurship is rugby, not tennis
Front Page

Entrepreneurship is rugby, not tennis

August 12, 2022
air cargo performance dips as russian-ukraine war rages
Aviation

Air cargo performance dips as Russia-Ukraine war rages

August 8, 2022
inflation
Front Page

Financial prudence amid inflation, rising transport costs

August 8, 2022
Dealing with the ATM nightmare
CONSUMER PERSPECTIVE

Dealing with the ATM nightmare

August 6, 2022
African workplace
FEATURES

Dealing with entitled employees in African workplace

August 1, 2022
Next Post
Savannah revises capital expenditure programme in Nigeria

Savannah revises capital expenditure programme in Nigeria


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

How IoT boosts customer satisfaction in transport sector

How IoT boosts customer satisfaction in transport sector

August 13, 2022
Entrepreneurship is rugby, not tennis

Entrepreneurship is rugby, not tennis

August 12, 2022
air cargo performance dips as russian-ukraine war rages

Air cargo performance dips as Russia-Ukraine war rages

August 8, 2022
inflation

Financial prudence amid inflation, rising transport costs

August 8, 2022
Nigerian Exchange Limited

NGX ASI, market cap go north, close at N27.358tn

August 8, 2022
Dealing with the ATM nightmare

Dealing with the ATM nightmare

August 6, 2022
African workplace

Dealing with entitled employees in African workplace

August 1, 2022

TRENDING

  • air cargo performance dips as russian-ukraine war rages

    Air cargo performance dips as Russia-Ukraine war rages

    2 shares
    Share 0 Tweet 0
  • NGX ASI, market cap go north, close at N27.358tn

    2 shares
    Share 0 Tweet 0
  • The world of hire purchase transporters in Lagos

    2 shares
    Share 0 Tweet 0
  • Dealing with the ATM nightmare

    0 shares
    Share 0 Tweet 0
  • Dissecting Nigerians’ savings culture amid socio-economic headwinds

    0 shares
    Share 0 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • CONSUMER PERSPECTIVE
  • PERSONAL FINANCE
  • MARKETS & COMPANIES
    • APPOINTMENTS
    • COMMODITIES
    • COMPANIES
  • BUSINESS & ECONOMY
    • AGRICULTURAL ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • STARTUPS
  • CULTURAL CURRENTS
  • EMPIRE
  • CORPORATE RENDEZVOUS