Nearly half of these transactions will be online payments for physical goods.
Juniper Research predicts that total mobile wallet transactions will reach $1.35 trillion in 2017, up by 32% on the $1.02 trillion recorded last year.
Here's more from Juniper Research:
It should be observed that the majority of these transactions will be accounted for by online payments for physical goods (43% of transactions by value) and domestic money transfer (39%). Conversely, NFC retail payments currently account for just 5% of wallet payment values, although this is expected to increase to 12% by 2021.
As with transaction volumes, China accounts for the largest share of values (52% in 2016) although this falls gradually over the forecast period. Several regions will experience average annual growth in excess of 30%, including the Indian Subcontinent, which should achieve 11% of total transactions by value by the end of the forecast period, up from 8% in 2017.
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