Will mobile wallets take over?


Short answer: yes, probably. The thing is that old fashioned metal and paper cash is not practical anymore, shops and banks are moving from physical money.

At the same time credit cards are expanding services and online payment solutions are expanding. But still, person-to-person payment and in-shop payment is shifting gradually to mobile wallets like Apple Pay.

But apps like Apple Pay cannot offer every financial service consumers want, like loans or forbrukslån via Zmarta.

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Smartphone users in Asia-Pacific countries accounts for above two-thirds of mobile wallet users worldwide. Following a rapid growth rate, the number of mobile wallet users is projected to rise to a ten-digit figure in 2019, according to the research findings cited in the yStats.com report.

Globally Apple Pay is the leading mobile wallet, but in Asia other apps like Alipay, Paytm, PhonePe and Rakuten are more popular.

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About the Author: Gunnar Andreassen

Gunnar Andreassen is a writer, editor and journalist. And a huge Apple fan! Featured on ABC, CBS, NBC and FOX.