Dublin, Oct. 10, 2024 (GLOBE NEWSWIRE) — The "Payment Wallet Market Report 2024" report has been added to ResearchAndMarkets.com’s offering. The global payment wallet market is experiencing significant growth, anticipated to surge from $106.01 billion in 2023 to $129.08 billion in the next year, marking an impressive compound annual growth rate (CAGR) of 21.8%. The robust expansion is attributed to the increased digitalization of transactions that enable a seamless and secure payment experience, rapid technological advancements, and growing consumer demand for efficient money management solutions. Future Outlook Looking forward to 2028, the payment wallet market is projected to reach $287.35 billion, growing at a CAGR of 22.1%. This growth is supported by the continued penetration of smartphones, the convenience of simplified transaction processes, the rising adoption of mobile and online payment methods, as well as ongoing advancements in payment processing technologies that highlight enhanced security. Additionally, key trends such as technological integrations, continued digitalization efforts, innovations in smartphone payment technology, financial inclusion in emerging markets, and strategic partnerships are expected to propel the market forward. Digitalization as the Catalyst for Growth The push towards digital transformation continues to be a fundamental driver of the payment wallet industry’s robust growth. […]
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