Mobile wallet industry to reach $3.5 trillion by 2023: report
Dive Brief: A new report from Finaria, a finance and investment company, estimates that the mobile wallet industry will grow to $2.4 trillion this year, a 24% increase from last year. The report forecasts that the market will grow to $3.5 trillion in value by 2023. The average value for mobile point-of-sale transactions is $1,670 in 2021, a 25% bump compared to 2019. Over the next two years, the average transaction value is expected to grow by 22% to $2,051, per the report. Though Asian countries, especially China, are leading the way in mobile payments, the U.S. mobile payments market is the...