Monday, May 29, 2023
  • HOME
  • MARKETS & COMPANIES
  • BUSINESS & ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • ROAD TRANSPORT
    • SMEs
    • STARTUPS
    • TECH
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • FEATURES
  • AE MAGAZINE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • Setup menu at Appearance » Menus and assign menu to Main Navigation
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
116
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

May 25: Why Politics Matters for Africa’s Development

Governance failure kills basic services, says Ezekwesili

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:

  • May 25: Why Politics Matters for Africa’s Development
    May 25: Why Politics Matters for Africa’s Development

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.

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

May 25: Why Politics Matters for Africa’s Development
Front Page

May 25: Why Politics Matters for Africa’s Development

May 26, 2023
failure
Front Page

Governance failure kills basic services, says Ezekwesili

April 28, 2023
Ezekwesili
Front Page

Oby Ezekwesili: The joys of sacrifice

April 25, 2023
Muslim
Front Page

Obiano felicitates with Muslims, urges unity among Nigerians

April 21, 2023
Journey
CONSUMER PERSPECTIVE

Journey so far

April 12, 2023
Bank
CONSUMER PERSPECTIVE

Are digital banks in Nigeria to stay?

April 12, 2023
Next Post
Savannah revises capital expenditure programme in Nigeria

Savannah revises capital expenditure programme in Nigeria


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

May 25: Why Politics Matters for Africa’s Development

May 25: Why Politics Matters for Africa’s Development

May 26, 2023
economy

Technocracy: Roadmap to successful Nigerian economy

May 19, 2023
failure

Governance failure kills basic services, says Ezekwesili

April 28, 2023
foreign

Eminent Nigerians, foreigners to honour Ezekwesili at birthday symposium

April 26, 2023
Ezekwesili

Oby Ezekwesili: The joys of sacrifice

April 25, 2023
Muslim

Obiano felicitates with Muslims, urges unity among Nigerians

April 21, 2023
Journey

Journey so far

April 12, 2023

TRENDING

  • naira devaluation

    What naira devaluation means for Nigeria’s economy

    0 shares
    Share 0 Tweet 0
  • The world of POS fraudsters

    0 shares
    Share 0 Tweet 0
  • Why Nigerian consumers prefer foreign goods

    0 shares
    Share 0 Tweet 0
  • Why big and small businesses are turning to digital marketing

    5 shares
    Share 5 Tweet 0
  • Issues with PoS business

    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
  • MARKETS & COMPANIES
  • BUSINESS & ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • ROAD TRANSPORT
    • SMEs
    • STARTUPS
    • TECH
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • FEATURES
  • AE MAGAZINE
  • CORPORATE RENDEZVOUS