How Blockchain Enables Self-Sovereign Identity Apps
According to Juniper, the SSI movement which uses blockchain to give users direct control of who accesses their online credentials will reach annual revenue of $1.1 billion by 2024 — that’s up from an estimated $100 million by the end of 2020.
Point-of-Sale Terminals Upgrade to Contactless Payments
Contactless transactions at POS are increasingly displacing cash in multiple markets. The study found that the average value per contactless transaction will grow from under $19 in 2019 to over $23 in 2024, with mobile payments and increasing contactless card issuance in the U.S. driving transaction growth.
The Commercial Advantages of Blockchain Technologies
Juniper Research assessed 15 leading blockchain vendors, scoring them on experience in the sector, marketing efforts and customer deployments along with their blockchain solutions. Juniper identified the 5 leading vendors as follows: IBM, Infosys Finacle, Guardtime, R3 and Ripple.
China will Continue to Lead Global eRetail Payments
Juniper now forecasts that over half of global revenue will be generated in China by 2024 — primarily owing to its increasing consumer affluence, and vast usage of Chinese social payments platforms such as WeChat Pay.
Digital Payment Trends will Reshape the Global Economy
In recent years, cashless payment has become increasingly prevalent, whether using conventional methods or innovative and convenient financial services on mobile phones. This trend will make our economy and financial system more efficient.
Smartphone Apps Drive the eRetail Payments Market
According to the latest worldwide market study by Juniper Research, the total transaction value of remote payments for digital and physical goods will exceed $6 trillion by 2024 — that’s a growth rate of 53 percent from 2019.
Digital Wallet Spending Surges in Europe and America
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.
How Blockchain will Drive Mobile Money Transfer Growth
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.
B2B Cross-Border Transactions to Reach 14.8 Billion
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
The U.S. Leads Top Acquirers in Payment Tech
Three out of the top five M&A deal makers (in terms of volume) during 2014-2018 were from the U.S. market. Germany-based Wirecard AG and China-based Ant Financial Services Group were the two other companies featured in the top five list.
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