What's New in Payments

Juniper forecasts mPOS transaction market

mPOS transaction values to exceed $1.9tn by 2024 — Juniper Research — “Juniper Research forecasts that mPOS (Mobile Points of Sale) transaction values will exceed US$1.9tn by 2024, up from $850bn in 2019. This growth will be driven by service adoption from new business users, including pop-up stores and street vendors, for whom the acceptance of card payments was previously inaccessible.”




Juniper forecasts rapid growth in mobile-first digital government IDs

Digital ID platforms to be used by 5bn people in 2024, as emerging economies go mobile-first — Juniper Research — “The number of people using government-issued digital identity credentials will grow by over 150% from an expected 1.7bn in 2019 to over 5bn in 2024… Mobile ID schemes take the lead over digital identity cards, with a third more users relying on apps compared to cards in the next five years.”


What's New in Payments

Digital wallets to be used by half the world’s population by 2024

Half the world’s population to use digital wallets by 2024 — Juniper Research — “A new study from Juniper Research has found that the number of people using digital wallets will increase from 2.3bn this year to nearly 4bn, or 50% of the world’s population, by 2024. This in turn will push wallet transaction values up by more than 80% to more than $9tn per annum.”