Published on 16-06-2015
What are the benefits of Mobile Wallet?
Mobile Wallet refers to any payment service performed from a mobile device used as an alternative for paying in cash, by cheque, or credit cards, as you actually make payments by using your phone. In developing countries, Mobile Wallet is a very popular service that has extended financial services to the communities that do not have a bank account, estimated 50% of the world´s adult population. With this data in mind, this service is expected to continue to expand. In 2013 the total market for mobile money was $13.8 billion and is expected to grow to an amazing $278.9 billion. Kenyans are the world´s leaders in the use of this type of financial services but it is also becoming highly popular in other African and Asian countries.