In the mobile-driven world, people tend to perform routine tasks using smartphones, and online payment is no exception. Though millennials are highly responsible for the surge in the number on mobile-based transactions, we just cannot ignore the role of salaried men, working women, and even retired persons in promoting mobile payments. A Business Insider survey has estimated that mobile payments will grow at CAGR of 80% to reach $503 billion by 2020.
Simply put, the future of mobile payments is bright as companies and consumers embrace this futuristic trend in favor of a cashless society. Ease of use, automation, convenience, streamlining of processes, and assurance of safe transactions are some of the major reasons why the trend of mobile payment has gained ground globally. Here are futuristic trends of mobile-based payment from the perspective of a mobile app development company.
- Mobile Wallets
The rise of eCommerce and mCommerce has paved the way for mobile wallets. As per a survey, every 6 in 10 consumers have used mobile for online shopping. The paradigm shift from laptop-based shopping to mobile shopping is greatly responsible for making mobile wallets one of the fastest-growing trends of mobile payment. When it comes to speed, safety, and convenience, custom wallet app solution always remains handy.
It is predicted that mobile wallet-based payments will reach $500 billion by 2020. Many eCommerce companies and B2C enterprises tend to contact the wallet app development company for developing feature-rich wallet apps. Software giants like Apple, Google, and Samsung have mainstreamed the mobile wallets and the consumers embrace them for paying through their smart devices with ease.
Mobile wallet app development services are expected to thrive in the coming years. The mobile wallets can also strengthen contactless payment methods like credit and debit card-based payments, wearable payment devices, etc. using NFC (Near Field Technology).
Original Source: On-demand Business Application
No comments:
Post a Comment