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Mobile wallets – smartphone apps where you can store your debit and credit cards – are a convenient way to pay for transactions with a tap of your phone. Thanks to convenience, speed and added security, this mobile payment option continues to grow increasingly popular, with the market estimated to rise to $1.35 trillion in 2017.
If you haven’t jumped on the bandwagon yet, keep reading for five reasons mobile wallets are gaining popularity.
Businesses are on Board with Mobile Wallets
As people become more comfortable using mobile wallets in their personal lives, they also seek the same flexibility for work. Some mobile wallets, like PNC Pay, allow you to add small business credit cards to pay for business expenses.
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1. “Mobile Wallets: Service Provider Analysis, Market Opportunities & Forecasts 2017-2021,” Juniper Research, 2017.
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