Hampshire, UK – 13th September 2023: Wallet Factory, a leading FinTech provider specializing in digital wallets and personalized loyalty rewards for banks and NBFIs, is pleased to announce its inclusion in the prestigious Juniper Research Competitor Leaderboard. This recognition comes as a result of Juniper Research’s comprehensive report titled “Digital Wallets: Platform Analysis, Key Trends, and Market Forecasts 2023-2028.”
Juniper Research, known for its expertise in payment markets, has conducted an in-depth analysis of the global digital wallet landscape, highlighting key trends, challenges, and growth opportunities. The report positions 15 prominent vendors, including Wallet Factory, on the Competitor Leaderboard. This leaderboard serves as a valuable resource for stakeholders seeking a deeper understanding of the complex digital wallet market.
Key Findings from the Juniper Research Report
- Rapid Growth in Digital Wallet Users: According to the report, the number of digital wallet users worldwide is set to exceed 5.4 billion by 2028, reflecting a remarkable 46% growth from 3.7 billion users in 2023. This growth is driven by the increasing demand for advanced financial services offered through digital wallets.
- Market Landscape Analysis: The report delves into the current state of the market, highlighting key trends such as virtual cards, and assessing various use cases for electronic wallet apps, including payment, ticketing, identity, and crypto.
- Strategic Recommendations: Key opportunities for mobile wallet providers are outlined in the report, along with recommendations on how these providers can capitalize on these opportunities. It also analyzes critical market trends, making it essential reading for digital wallet providers and mobile money services.
- Forecast Summary: The report forecasts significant growth in digital wallet transactions, with the total value projected to rise from $9 trillion in 2023 to over $16 trillion in 2028, a remarkable 77% increase. This growth is attributed to the adoption of advanced services like Buy Now Pay Later (BNPL), microloans, and personal financial management.
Wallet Factory’s inclusion in the Juniper Research Competitor Leaderboard highlights the company’s commitment to delivering innovative digital wallet solutions and personalized loyalty rewards to banks and NBFIs. The recognition underscores Wallet Factory’s position as a key player in the competitive digital wallet industry.
“Digital wallet services have the opportunity to fulfill a wider role, but ensuring their wallet technology platform offers the right mix of capabilities to fill this role is critical.”Michael Greenwood, Research Analyst at Juniper Research
Key Questions Addressed in the Report
- What is the current value of the digital wallets market, and what will it be in 2028?
- What factors are driving the growth of digital wallet adoption, both nationally and internationally?
- How can wallet providers maximize future opportunities beyond core payments?
- Which digital wallet platforms are poised to lead the market in 2023?
- How will the rise of central bank digital currencies impact the digital wallets market?
Wallet Factory is proud to be recognized by Juniper Research and remains committed to providing cutting-edge digital wallet solutions that cater to the evolving needs of financial institutions and their customers.
“We are honored and delighted to be recognized by Juniper Research and included in their prestigious Competitor Leaderboard for digital wallet solutions. This recognition is a testament to Wallet Factory’s unwavering commitment to innovation and excellence in the digital wallet space. It reaffirms our dedication to providing our partners, banks, and NBFIs with cutting-edge solutions that not only meet but exceed the evolving needs of their customers. We are excited about the future and remain committed to driving forward the digital wallet industry with creativity, security, and user-centric design.”Mikhail Miro, CEO and Co-Founder of Wallet Factory
For more information about Wallet Factory and its digital wallet solutions, please visit https://walletfactory.com/
About Wallet Factory
Wallet Factory is a leading FinTech provider specializing in digital wallet solutions and personalized loyalty rewards for banks and non-bank financial institutions (NBFIs). With a commitment to innovation and user-centric design, Wallet Factory empowers financial institutions to deliver seamless and secure digital wallet experiences to their customers.
For getting more details on digital wallets for banks and other businesses, please visit our Contacts page.
+1 (415) 830 36 69
16192 Coastal Highway, Lewes, Delaware 19958, County of Sussex
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