The value of global mobile retail commerce is set to reach US$1,120bn by 2020, up from US$415bn in 2016, a white paper released by Aite Group predicts. Tracing the growth and uptake of digital wallet services across the mobile and e-commerce sector, the research states that the global online commerce market will grow to US$7,114bn overall by 2020. “Successful digital wallet providers will be those that offer consumers ease of use, peace of mind (regarding security), and the ability to transact anytime and anywhere,” says Aite Group senior analyst Ron van Wezel.

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