Gartner Research

Market Trends: Mobile Wallet Apps Are Not Yet Mainstream Adoption

Published: 05 April 2016

ID: G00291922

Analyst(s): Sandy Shen , Mikako Kitagawa

Summary

Mobile wallet applications are gradually gaining popularity, although the use of the payment function is still limited compared with commerce functions. Product managers at mobile wallet providers should streamline the wallet shopping experience to make it the payment most convenient for users.

Table Of Contents

Introduction

Market Trend

  • Mobile Wallet User Base Increased to 64% of Smartphone Users
  • Complementary Services Drive Mobile Payment Usage
  • Lack of Value Is the Primary Reason for Not Using Mobile Payments
  • E-Commerce, Payment Providers and Financial Institutions Are the Most Trusted Wallet Providers

Vendors to Watch

  • Apple
  • Google
  • Samsung
  • PayPal
  • Alipay
  • WeChat Pay
  • Paytm
  • Visa Checkout
  • MasterPass

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