Reportstack has announced a new market research publication on Global Mobile Wallet Market which indicates that even though NFC mobile wallet technology is relatively new, consumer confidence is providing a backbone for market growth for the period of 2014-2018.
Key vendors in the market are Visa Inc., MasterCard, American Express Inc., PayPal Inc., Google, ISIS, and Square Inc. These vendors have pushed to improve security mechanisms for mobile wallets in response to security threats and privacy concerns that have inhibited widespread adoption of mobile wallets. Some security measures that have been adopted are validation through personal documents such as driver’s licenses, passports and social security numbers. Mobile wallet facilities can also be integrated with authentication programs to enhance security and increase users' confidence in the model.
Consumer demand for convenient, easy modes of payment, which don’t require the intervention of traditional banking channels is also driving the market. Increased penetration of smartphones and demand for high-end mobile devices, especially in the APAC region, as well as growing acceptance of NFC technology among both consumers and businesses is also driving the market.
To determine the scenario for these vendors in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
To view the table of contents and know more details please visit http://www.reportstack.com/product/151648/global-mobile-wallet-market-2014-2018.html
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