News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
20% of mobile phones will have mobile wallet functionality by 2018
A new report from Juniper Research forecasts that one in five of all mobile phones will include mobile wallet functionality by 2018 compared with less than 10% at the end of 2013.
In their newest report, "Mobile Wallets: Strategies for Developed and Developing Markets 2014-2019", Juniper predicts significant growth in mobile wallet functionality. That growth will be driven by Stored Value Accounts which are "increasingly enabling first time financial access for unbanked individuals" along with a rise in deployments across sub-Saharan Africa, developing Asia and Latin America.
Juniper also predicts that mobile wallets will get a significant boost from the anticipated launch of an Apple iWallet this year and via Host Card Emulation-based NFC services.
The mobile wallet profile would also be boosted via high-profile P2P (Person to Person) payment initiatives, says Windsor Holden, author of the report. Such initiatives include the UK's Paym and start-ups such as Dwolla and Venmo in the U.S.
"While P2P mobile payment services have struggled to gain traction in developed markets, financial institutions are keen to commit to them as they can serve as an attractive value-add to consumers in an increasingly cashless society," said Holden.
Earlier this year, a study from the Yankee Group revealed that 67% of Americans now own a smartphone, but few use them as mobile wallets to make in-store payments. In the last three months, just 16% of mobile phone owners had used their device to make a payment in-store.
Even among those using mobile wallets almost three quarters (73%) were not using them very frequently - fewer than five times per month.
Image via Shutterstock
- Spending up but enthusiasm down for Halloween celebrations in the UK
- Study: Santa's Using SaaS
- Brits have financial concerns in the run up to Christmas
- Top 3 tips to create a solid cross-device strategy
- Ad Roundup: Mobile video and retargeting solutions
- Forecast: 27% of holiday buys could be 'lost' to abandoned carts
- Multitasking activity during TV viewing has little to do with the show being watched
- 65% of shoppers still rely on visits to physical stores during online shopping journey
Featured White Papers
- The 5 Worst Things a Creative Can Say
Among the common phrases used in creative services teams there is a group that are deceptively harmless because we hear...
- 5 Ways to Ensure your Social Brand Gets Noticed
In the world of social sponsorships today the key to success is not just awareness but recognition. The path to...
- How Marketers Can Earn Respect at the Revenue Table
Your CEO might not care how many emails you sent last week, but they do care about revenue. To earn...
- How to Create a More Social Business
Download this whitepaper to learn about the current state of social media adoption and see where the most innovative companies...
- The Definitive Guide to Duplicate Listings
In the Local SEO biz, we spend a lot of time dealing with duplicate business listings. Duplicate records of your...