The Digital Wallet Revolution and its Role in the Economy- Mobile Financial Solution (MFS)
Digital wallets have varied functions, including P2P payments and other payment methods, balance inquiry and reporting functions, supporting loyalty programs and acting as a marketplace.
In terms of economics, mobile wallets are enablers of commerce in lieu of a standalone revenue generator. An additional benefit is to increase customer retention by bridging the gap between customer and financial institutions.
The Age of Fast Buying
The fast evolution of payment technology coupled with demographic trends across the globe shows the growing demand among consumers for a hassle-free and quick checkout experience. According to a recent study by JP Morgan Chase,
Digital Commerce volume was above $ 3 trillion in 2017 and is expected to double by 2022.
In the US alone, approximately 110 million people are using Digital wallets across various POS.
One out of every four users ended up spending more while using digital wallets.
3 out of every 4 customers find digital wallets more convenient
For more information, visit: https://articles.abilogic.com/411234/what-role-digital-wallet-revolution.html?from=email
https://hubpages.com/business/BEST-PRACTISES-IN-CUSTOMER-ONBOARDING-Diksha-Technologies
https://www.dikshatech.com/platforms/mobile_financial_solutions/
https://articles.abilogic.com/410095/best-practises-customer-onboarding.html?from=email
https://dikshatechnolog.livejournal.com/355.html
https://www.dikshatech.com
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