Mobile Wallet Spend to Rise by More than 30% this Year, Reaching $1.35 Trillion

BASINGSTOKE, England, January 30, 2017 /PRNewswire/ —


Global spend via mobile wallets is expected to rise by nearly 32% this year to $1.35 trillion, a new study from Juniper Research has found.

The study – Mobile Wallets: Service Provider Analysis, Market Opportunities & Forecasts – found that spend is currently concentrated in the Far East & China, due primarily to the success of Alipay and WeChat. However, it claimed that moves by key players such as PayPal and Apple to offer wallets which can be used both instore and online means that wallets will increasingly become the default payment mechanism in other markets.

PayPal in Pole Position

The research, which forms the most comprehensive report on the wallet industry available in the market, highlighted PayPal’s decision to introduce an HCE (Host Card Emulation) NFC solution to enable POS payments as a key disruptive moment in the wallet wars. According to the research, this – allied to the burgeoning success of its social payments subsidiary Venmo – places PayPal in pole position to capitalise on the increased demand for mobile wallets.

Indeed, the company classified PayPal as the “Established Leader” within its Mobile Wallets Leaderboard, which provides a comparative assessment of wallet providers including Alipay, Apple, Mastercard, Paytm, Samsung and WeChat.

European Market to Benefit from Deregulation 

Additionally, the research argued that the implementation of the PSD2 (Payment Services Directive 2) legislation should spur further competition within the European wallet space, with existing players poised to introduce additional services to complement their payment offerings.


Read full release here:


Other point of sale articles of interest:

  1. Vantiv Partners with CardFlight to Offer EMV Mobile POS Solution
  2. Newest North American Version of Epicor BisTrack Released
  3. Wipro Partners with Tradeshift to Increase Digitalization across Source-to-Pay Processes
  4. Atom Tickets Mobile Ticketing Platform Teams Up With Bow Tie Cinemas, Expands Reach
  5. A Government in Confusion is Bad For The POS Industry
  6. e-Nabler Teams Up with Vantiv to Offer EMV-Certified Tablet and Mobile POS Solution
  7. McDonald’s Delivery Available via UberEATS Mobile Ordering Platform in Florida
  8. US Payments Forum Winter Market Top Priorities for 2017