The ubiquity of smartphones and internet access is expected to push the value of the mobile payment market to be worth $4.57trn by 2023, according to new research.
The market was valued at $601bn, meaning that the market is expected to grow at a compound annual growth rate of 33.8% between 2017 and 2023, according to the new Valuates Reports research.
The growth is also expected to be driven by many governments encouraging banks to develop infrastructure in rural areas to allow safe and secure mobile payments, which is a huge opportunity for vendors.
Copyright © 2020 FinTech Global
