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One in every five phones to have mobile wallets by 2018

One in every five phones to have mobile wallets by 2018
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By 2018, one out of every five mobile phones will have mobile wallet functionality, according to a new report by Juniper Research, a UK-based technology research company.

This is against the less than one in every 10 mobile phones at the end of 2013.

The report, titled “Mobile Wallets: Strategies for Developed and Developing Markets 2014-2019”, found that SVAs (Stored Value Accounts) are increasingly paving the way for people without bank accounts in emerging markets to have access to financial services through their mobile phones.

The report forecasts a surge usage of SVAs across sub-Saharan Africa, developing Asia and Latin America.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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