It seems that #mobilewallets have a bright future ahead:
- Apple recently announced that its transactions volume coming from Apple Pay went up 500 percent year over year.
- According to a report from Juniper Research, global spend through mobile wallets will increase to $1.35 trillion in 2017.
- The report also claimed that 16.5 percent of U.S. smartphones made a contactless payment in 2016.
- Among the biggest players, we can underline Paypal, WeChat, Alipay, Apple Wallet, Android Pay.
- You can pay on hundreds of merchants’ Web sites with Apple Pay in a move that has increased online sales,
There is no doubt that consumers are spending more time within their smartphones than ever and mobile wallets continue to create new partnerships worldwide: recently, Apple Pay doubled down on an existing partnership with cashless-vending machine payment platform USA Technologies by integrating its loyalty program into its platform.
Interesting fact to outline, the study claims that the majority of mobile payments transactions will involve physical goods (43 percent) which is a huge opportunity for brands to digitalize their coupons and loyalty cards to increase the redemption rate thanks to mobile wallets.