Smartphone Usage and NFC Drive Mobile Wallet Market Growth

Widespread smartphone use and technologies that enhance the customer experience, such as Near Field Communication, will fuel ongoing stable growth of the digital wallet market through at least 2024. That’s the bottom line from an industry report from Grand View Research. The mobile wallet market has enjoyed rapid growth because it allows consumers to perform transactions and manage funds anytime and anywhere, all while supporting low fees and favorable prices. Recent years have seen substantive innovations from key players in the market.