Spending via digital wallets across Europe and North America will increase by 40 percent this year to nearly $790 billion, according to Juniper Research. The largest growth in 2019 will come from in-store payments, with mobile contactless payments more than doubling across these regions.
According to Juniper Research, the volume of domestic money transfers via mobile phones will exceed 203 billion in 2024 — that’s up from 130 billion in 2019. Domestic person-to-person (P2P) payments will drive this growth, accounting for 80 percent of all domestic transfers in 2024.
A new global market study found that more than 14 billion B2B cross-border transactions will be processed by 2023; rising from 13.5 billion in 2019 — that’s a 7% increase. This will be driven by blockchain-based payment networks.
via Juniper Research
For the savvy digital wallet provider, the fintech revolution in online payments and person-to-person remittance has enabled several new players to achieve a growing presence across the global financial services and retail ecosystems.
According to the latest worldwide market study by Juniper Research, B2B transactions processed by pureplay digital payment operators will reach $14 trillion by 2023 — that’s up from $6.7 trillion in 2018.
According to Juniper Research, the annual value of virtual cards (e.g. temporary card numbers only available for a single transaction or limited time) used by businesses will grow by 90 percent over the next four years — exceeding $1 trillion by 2022.