In 2019, mobile wallets overtook credit cards to become the most widely used payment type globally. In 2020, the COVID-19 pandemic became another accelerant of the continued digitization of the global payments landscape.
Despite this, there has been a lack of quality, consistent, information around the global, mobile payments landscape. Many global businesses find themselves reacting to the rapidly evolving payments landscape instead of proactively planning their mobile payments acceptance strategy.
This is why Boku has created the 2021 Mobile Wallets Report. We partnered with Juniper Research to collect mobile wallet market share and develop market forecasts along with in-market consumer surveys.
In this report, we’ll uncover the global trends that are shaping the mobile payments landscape, digging deeper into regional trends, and even deeper into country-by-country analysis.
This report is designed to empower you the information you need to build your mobile payments acceptance strategy.
While the impact of the COVID-19 pandemic has been pointed to by many as a transformative effect on digital payments, it has merely been an accelerant of the digital payments revolution that has been underway for years. Mobile payments, and more specifically mobile wallets, have been the greatest driver of this revolution on a global basis.
This report will analyze the global mobile payments market in depth, focusing primarily on key developments within mobile wallets, as well as presenting data on how wallets are being used around the world. We will highlight key growth markets, and the trends driving this growth.
While countries and regions differ greatly in the current status, projected growth, consumer attitudes and more, there are a number of global trends that are worth further exploration:
The Bifurcation of Mobile Wallets
It’s important to highlight the ways in which developed markets, primarily in North America and Western Europe, differ from the regions which are highlighted in this report.