Fifth of mobile phones to have m-wallet features by 2018

Money Transfer

One in five mobile handsets will have mobile wallet functionality by 2018, compared to less than one in ten at the end of 2013, according to Juniper Research. Growth is expected to be boosted by two distinct wallet models.

In emerging/developing markets, SVAs (Stored Value Accounts) are increasingly enabling first time financial access for unbanked individuals, and the report forecasts a surge in deployments across sub-Saharan Africa, developing Asia and Latin America.