BFC Bulletins Monthly News Digest
The biggest report ever published about mobile wallets (the Mobile Wallets Report, published by Boku) is projecting that nearly 60% of the world’s population will be mobile wallet users by 2025. Currently, the fastest adopters of mobile wallets are Southeast Asia, Latin America, Africa and the Middle East, where the convenience of mobile wallet solutions are displacing cash and card solutions as well as increasing access to financial solutions for billions around the world. Southeast Asia is the fastest-growing region and projected to see 311% mobile wallet growth over the next 5 years. Latin America, Africa and the Middle East are all expected to see between 147% and 166% mobile wallet growth during that same time. It is clear that we are in the middle of a paradigm shift in the way we make (and accept) payments, paving the way to a future where every transaction can be easily monetized for every consumer.
